Annual Conference

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Real Estate and Urban Economics

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May 2024

The Long-Run Environmental Consequences of Land Development

Congyan HAN, Lu HAN, Vincent YAO
We study the long-run environmental impacts of land development activities using flood claims and land use data at the zip code level. Employing long differences and instrumental variable approaches, we find that an increase in developed land is associated with a significant increase in flood claims...
Keywords: Land Use, Flood Damage, Environmental Effects, Right to Work Law
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Annual Conference

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Real Estate and Urban Economics

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May 2024

The Lasting Impact of Historical Residential Security Maps on Experienced Segregation

Daniel AARONSON, Joel Kaiyuan HAN, Daniel A. HARTLEY, Bhashkar MAZUMDER
We study the impact of the 1930s HOLC residential security maps on experienced segregation based on cell phone records which track visits out of and into home neighborhoods. We compare adjacent neighborhoods, one of which was assigned a lower grade for creditworthiness than the other. We use a sampl...
Keywords: Redlining, access to credit, experienced segregation, intergroup exposure, within-city mobility
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Annual Conference

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Real Estate and Urban Economics

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May 2024

The Spillover Effects of Real Estate

Kaiji CHEN, Huancheng DU, Chang MA
We examine the spillover effects of the “Three-Red Lines” policy, a Chinese regulatory measure in 2020 that imposed leverage reduction requirements on the real estate sector. Using a firm-level exposure measure, we find that higher exposure to the real estate sector leads to more pronounced adve...
Keywords: Spillover, Real Estate, Production Network, Trade Credit
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Annual Conference

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Real Estate and Urban Economics

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May 2024

Individual Investors' Housing Income and Interest Rates Fluctuations

Antonio GARGANO, Marco GIACOLETTI
We study the relationship between the level of interest rates and the share of individuals who own rental properties. Using unique tax filing data from Australia, we show that declines in interest rates over the period between 2006 and 2019 have coincided with a substantial increase in the share of ...
Keywords: Household Income, Landlords, Interest Rates, Homeownership
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Annual Conference

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Accounting

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May 2024

Navigating Emission Reduction: The Interaction of Disclosure Regulation and Institutional Support in China

Serene Qian HUANG, Hai LU, Yue ZHANG
We examine the impact of a disclosure regulation on corporate carbon emissions and the critical factors that influence its efficacy. In 2021, the Chinese Securities Regulatory Commission (CSRC) introduced a disclosure regulation which requires all public firms to create and report their ESG activiti...
Keywords: disclosure regulation, carbon emissions, ESG, real effects
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