China's outsized real estate sector has long been a key engine of growth. However, with
decades of construction at break-neck speeds having produced a massive increase in the …

This study used the house purchase restriction (HPR) policy applied between 2016 and
2017 in China to investigate whether local governments actively capitalised on the spillover …

Previous studies examined the effects of environmental information on people's pollution
avoidance behaviors in the market. However, they obtained contradictory empirical findings …

There are substantial rebounds in house prices in many developed economies after the
outbreak of COVID-19. It provides a special opportunity to test the real interest rate …

We conduct a field experiment with US households to study how expectations about long-
run home price growth shape spending decisions. In our survey, we exogenously vary these …

Carbon emission reduction in the building sector plays an essential role in the global
mitigation effort, and a policy of limiting the expansion of buildings could be a critical …

Interconnected capital markets allow mobile global capital to flow into immobile local assets.
This paper examines how foreign demand affects US housing markets, and uses this …

The spatial spillovers of housing prices across regions are well documented by a large body
of previous studies. This paper tries to investigate the dynamic (time-varying) evolution of …

Using a representative sample of credit card holders from a leading Chinese commercial
bank, we investigate how consumers respond to an unexpected interest rate decrease that …

It is hard to experimentally test the impacts of monetary policy shocks on housing markets as
it is very unlikely for a central bank to change monetary policies swiftly twice within a short …