Search results for "House"
showing 10 items of 1116 documents
Booms and busts in housing markets: determinants and implications
2009
This study looks at real estate price booms and busts in industrialised countries. It identifies major and persistent deviations from long term trends for 18 countries and estimates the probabilities of their occurrence using a Random Effects Panel Probit model over the period 1980-2007. It finds that 1) most recent housing booms have been very persistent and of a significant magnitude; 2) there appears to be a strong correlation between the persistence and magnitude of booms and subsequent busts; 3) economic costs (in terms of GDP losses during the post-boom phase) depend significantly on the magnitude and duration of the boom and money and credit developments during that period; 4) a numb…
The rationality of rainy day savers: objective and subjective determinants of individual savings in Britain
2022
Using the largest and richest data on savings in Great Britain, six waves of the Wealth and Assets Survey from the Office for National Statistics, we compare standard life cycle models of saving with models using more 'subjective' measures, and the added dimension of longitudinal data. Whilst the life cycle model provides a benchmark, regular criticisms remain, particularly people's propensity to continue saving at older ages. Data on attitudes attenuate that issue, and panel data largely eliminate it. Our results confirm empirically, for Great Britain, the importance of some of the objective determinants of savings included in life cycle theory. When we look at more subjective ones, we sho…
The relationship between environmental values and income in a transition economy: surface water quality in Latvia
2002
A contingent valuation study measured citizen willingness to pay (WTP) for an improvement in surface water quality in Latvia. The average respondent was willing to pay 0.7 per cent of household income for the environmental improvement, but that amount was much less than needed to finance the required investments in treatment facilities. While the income elasticity of WTP for the average resident was low (0.56), it increases as income increases, reaching 0.9 at an income level double the current average. As real incomes increase in Latvia, the demand for environmental quality by citizens can be expected to increase substantially.
An intertemporal approach to measuring environmental performance with directional distance functions: Greenhouse gas emissions in the European Union
2014
Abstract The impact of economic activity on the environment is a matter of growing concern for firm managers, policymakers, researchers and society as a whole. Building on previous work by Kortelainen (2008) [Dynamic environmental performance analysis: A Malmquist index approach. Ecological Economics 64, 701–715], we contribute an approach to assessing intertemporal environmental performance at the level of the management of specific pollutants, as the result of change in eco-efficiency and environmental technical change, which identify catching-up with best available environmental practices and eco-innovation, respectively. In doing so, we use Data Envelopment Analysis techniques, directio…
Urban segregation and unemployment: A case study of the urban area of Marseille – Aix-en-Provence (France)
2018
International audience; In this paper, we study the effects of the spatial organization of the urban area of Marseille – Aix-en-Provence on unemployment there. More specifically, differences in the characteristics of the residential population induce urban stratification with the result that urban structure may affect the probability of employment. In order to evaluate the effects of spatial structure on unemployment, we implement a spatial probit model to reveal the employment probabilities of young adults still living with their parents. Our results support the hypothesis that living in or near a deprived neighborhood decreases the probability of employment.
Development of net energy ratio and emission factor for quad-generation pathways
2014
Published version of an article in the journal: Energy Systems. Also available from the publisher at: http://dx.doi.org/10.1007/s12667-014-0126-4 The conversion of biomass to four different outputs via gasification is a renewable technology that could reduce the use of fossil fuels and greenhouse gas (GHG) emissions. This study investigates the energy aspects for a new concept of biomass based quad-generation plant producing power, heat, methanol and methane. Circulating fluidized bed gasifier and the gas technology institute (GTI) gasifier technologies are used for this quad-generation process. Two different biomass feedstocks are considered in this study. The net energy ratio for six diff…
Measuring readiness for entrepreneurship: An information tool proposal
2016
Abstract A profound review of the literature on entrepreneurship reveals that it does not exist a specific information tool to measure the individuals’ readiness for entrepreneurship. The purpose of this research has been building such kind of instrument to estimate the individuals’ readiness for entrepreneurship. Its design takes in consideration the inclusion of the main variables identified by the literature as those most associated with entrepreneurial profiles. These variables have been grouped into three categories: sociological, psychological and managerial-entrepreneurial. Each group provides batteries of items which are evaluated thanks to a specific scoring system. The final objec…
Establishment size and task-specific wages: Evidence from historical contract data
2014
This study examines whether task-specific jobs are rewarded differently across establishments of different sizes and whether these rewards vary across distinct technologies. We found that the aggregate premium estimates on the impact of size on wages conceal significant differences between tasks and technologies and that these differences reflect unobserved individual heterogeneity. The role of self-selection of more productive workers into larger establishments is particularly substantial in the case of abstract tasks. peerReviewed
Structural Change in Finnish Manufacturing: The Theory of the Aggregation of Production Functions and an Empirical Analysis with a Plant-Level Panel
2011
Abstract In this paper, structural change in the Finnish manufacturing industries is studied using the theory of the aggregation of production functions and longitudinal plant-level data for the period from 1980 to 2005. To characterise the nature of structural change in 12 industries, we examine the invariance of aggregate production functions over time. Aggregate production functions need not be estimated because, according to the theory of the aggregation of production functions, the invariance can be analysed by investigating the stability of capacity density functions, which describe the distribution of value added in these industries. Even though the shapes of aggregate production fun…
On the Consistent Use of VaR in Portfolio Performance Evaluation: A Cautionary Note
2010
The portfolio performance measures based on the Value at Risk (VaR) concept have gained widespread popularity and are often used in empirical studies. In the majority of empirical studies, however, a VaR-based performance measure is inconsistently used. In this article, Zakamouline emphasizes how to consistently use VaR in portfolio performance evaluation. He also elaborates on a simple framework that allows the derivation of a general formula for a portfolio performance measure that is not limited to the use of VaR-based reward and risk measures, but is valid for all reward and risk measures that satisfy a few plausible properties.