ZC_Urbanscape Covel 2012

Working Papers

The Ziman Center was formed with a mandate to create and administer UCLA's activities surrounding the topic of real estate. To further this mandate, the Center has developed a community of scholars who undertake real estate related research. These Affiliated Faculty are drawn from departments throughout the UCLA campus, including management, economics, law, public policy, urban planning, engineering, architecture and geography. The Working Papers Series is made up of research undertaken by the Affiliated Faculty. The purpose of these papers is to widely distribute the results of this research. At regular intervals the Ziman Center prepares research briefs that provide insights into research to the wider real estate community.

WP# TITLE AUTHOR(S)
2014
2014-01 Household Demand for Low Carbon Public Policies: Evidence from California Matthew J. Holian and Matthew E. Kahn
2014-02 Big-Box Retailers and Urban Carbon Emissions: The Case of Wal-Mart Matthew E. Kahn and Nils Kok
2014-03 The Impact of Emerging Climate Risks on Urban Real Estate Price Dynamics
Devin Bunten and Matthew E. Kahn
2014-04 Public Transit Bus Procurement: The Role of Energy Prices, Regulation and Federal Subsidies
Shanjun Li, Matthew E. Kahn and Jerry Nickelsburg
2014-05 The Impact of Consumer Credit Access on Unemployment
Kyle F. Herkenhoff
2014-06 Government Fragmentation and Metropolitan Economic Performance: Evidence from China
Bindong Sun, Tinglin Zhang, Yinyin Cai and Rui Wang
2014-07 External Integration, Structural Transformation and Economic Development: Evidence from Argentina 1870-1914
Pablo Fajgelbaum and Stephen J. Redding
2014-08 Impacts of the Widening Divide: Los Angeles at the Forefront of the Rent Burden Crisis
Rosalie Ray, Paul Ong, Silvia Jimenez
2014-09 Anchoring and Housing Choice: Results of a Natural Policy Experiment
Yuval Arbel, Danny Ben-Shahar, and Stuart Gabriel
2014-10 Agglomeration: A Dynamic Approach
W. Walker Hanlon and Antonio Miscio
2014-11 Economic Integration and Structural Change
Jean Imbs, Claudio Montenegro and Romain Wacziarg
2014-12 A Silver Lining to White Flight?
White Suburbanization and African-American Homeownership, 1940-1980

Leah P. Boustan and Robert A. Margo
2014-13 Are Compact Cities Greener? Evidence from China, 2000-2010
Rui Wang and Quan Yuan
2014-14 The Great Recession and Residential Mobility: A Shift to Local Moves
Michael A. Stoll
2014-15 The Cost of Convenience: Estimating the Impact of Communication Antennas on Residential Property Values
Stephen L. Locke and Glenn C. Blomquist
2014-16 The Misunderstood Consequences of Shelley v. Kraemer
Yana Kucheva and Richard Sander
2014-17 Between Resistance and Embrace: American Realtors, the Justice Department, and the Uncertain Triumph of the Fair Housing Act, 1968-1978
Jonathan Zasloff
2014-18 Housing Disparities in Southern California
Jason Harley
2014-19 Pulling the Trigger:
Default Option Exercise over the Business Cycle

Xudong An, Yongheng Deng and Stuart A. Gabriel
2014-20 The Impact of Unconventional Monetary Policy on Real Estate Markets
Stuart A. Gabriel and Chandler Lutz
2014-21 Can Metropolitan Housing Risk Be Diversified?
A Cautionary Tale from the Recent Boom and Bust
 (revised)
John Cotter, Stuart A. Gabriel and Richard Roll
2014-22 The Role of Housing Finance in Mexico's Vacancy Crisis
Paavo Monkkonen
2014-23 Climate Change Adaptation: Lessons from Urban Economics
Matthew E. Kahn
2013
2013-01 The Rise of the Low Carbon Consumer City Matthew J. Holian and Matthew E. Kahn
2013-02 Does Public Transit Use Enhance the Economic Efficiency of Urban Areas? (revised) Matthew P. Drennan and Charles M. Brecher
2013-03 Commercial Building Electricity Consumption Dynamics: The Role of Structure Quality, Human Capital, and Contract Incentives Matthew E. Kahn, Nils Kok and John M. Quigley
2013-04 Incentivizing China's Urban Mayors to Mitigate Pollution Externalities: The Role of the Central Government and Public Environmentalism Siqi Zheng, Matthew E. Kahn, Weizeng Sun and Danglun Luo
2013-05 Is the Information Technology Revolution Over? David M. Byrne, Stephen D. Oliner and Daniel E. Sichel
2013-06 Congressional Influence As a Determinant of Subprime Lending Stuart A. Gabriel, Matthew E. Kahn, and Ryan K. Vaughn
2013-07 Are the Disabled Less Loss Averse? New Evidence from the Housing Market Yuval Arbel, Danny Ben-Shahar, and Stuart Gabriel
2013-08 The Market for OTC Derivatives Andrew G. Atkeson, Andrea L. Eisfeldt and Pierre-Olivier Weill
2013-09 Estimates of the Size and Source of Price Declines Due to Nearby Foreclosures Elliot Anenberg and Edward Kung
2013-10 Moral Hazard and the Structure of Debt Contracts: the Efficiency of Non-Recourse Lending (revised) Robert R. Bliss and Stephen D. Cauley
2013-11 Industry Connections and the Geographic Location of Economic Activity W. Walker Hanlon
2013-12 Unemployment, Negative Equity, and Strategic Default Kristopher Gerard, Kyle F. Herkenhoff, Lee E. Ohanian and Paul S. Willen
2013-13 The Boom, the Bust, and the Future of Homeownership (revised) Stuart A. Gabriel and Stuart S. Rosenthal
2013-14 Does More Information Lead to More Financing?
Local Information Shocks and Bank Credit

Mark J. Garmaise and Gabriel Natividad
2013-15 Immigration, Segregation and Poverty in the U.S.
Michael A. Stoll
2013-16 Is Crime Bad for Business?
Crime and Commercial Property Values in New York City
 (revised)
Michael C. Lens and Rachel Meltzer
2013-17 The Housing Market Effects of Local Home Purchase Restrictions: Evidence from Beijing
Weizeng Sun, Siqi Zheng, David M. Geltner and Rui Wang
2012
2012-01 Decentralization and Urban Environment: A Case of Industrial Air Pollution in Chinese Cities He Canfei
2012-02 What Actually Causes Mortgage Defaults, Redefaults, and Modifcations Kyle Herkenhoff
2012-03 Forecasting Real Estate Prices Eric Ghysels, Alberto Plazzi, Walter Torous and Rossen Valkanov
2012-04 Optimal Pricing Strategy in the Case of Price Dispersion: New Evidence from the Tokyo Housing Market Yongheng Deng, Stuart A. Gabriel, Kiyohiko G. Nishimura and Diehang (Della) Zheng
2012-05 Female Leadership and Gender Equity: Evidence from Plant Closure Geoffrey Tate and Liu Yang
2012-06 The Bright Side of Corporate DiversiĀ…fication: Evidence from Internal Labor Markets Geoffrey Tate and Liu Yang
2012-07 Swings in Commercial and Residential Land Prices in the United States Joseph B. Nichols, Stephen D. Oliner and Michael R. Mulhall
2012-08 Can Metropolitan Housing Risk Be Diversified?
A Cautionary Tale from the Recent Boom and Bust
John Cotter, Stuart A. Gabriel and Richard Roll
2012-09 Financial Flexibility for Households Mark J. Garmaise
2012-10 Fear and Loathing in the Housing Market: Evidence from Search Query Data Marcelle Chauvety, Stuart A. Gabriel and Chandler Lutz
2012-11 Interest Rates and Real Estate Values: The Diverging Effects of Real Rates and Expected Inflation Kuntara Pukthuanthong and Richard Roll
2012-12 Internationally Correlated Jumps Kuntara Pukthuanthong and Richard Roll
2012-13 The Suburbanization of Housing Choice Voucher Recipients Kenya Covington, Lance Freeman and Michael A. Stoll
2012-14 Explaining Racial/Ethnic Gaps in Spatial Mismatch: The Primacy of Racial Segregation Michael A. Stoll and Kenya Covington
2012-15 How Land Use Changes Contribute to Economic Growth in Urban China? A Structural Equation Analysis He Canfei and Huang Zhiji
2012-16 Urbanization, Agglomeration Economies, and Access to Mortgage Credit Stuart A. Gabriel and Stuart S. Rosenthal
2012-17 Time-to-Plan Lags for Commercial Construction Projects Jonathan N. Millar, Stephen D. Oliner and Daniel E. Sichel
2012-18 Do Liberal Home Owners Consume Less Electricity? A Test of the Voluntary Restraint Hypothesis Dora L. Costa and Matthew E. Kahn
2011
2011-01 Household Location and Race: A Twenty-Year Retrospective Stuart A. Gabriel and Gary D. Painter
2011-02 China's Rising Demand for "Green Cities": Evidence from Cross-City Real Estate Price Hedonics Siqi Zheng, Jing Cao and Matthew E. Kahn
2011-03 Understanding the Solar Home Price Premium: Electricity Generation and "Green" Social Status Samuel Dastrup, Joshua Graff Zivin, Dora L. Costa and Matthew E. Kahn
2011-04 Does Public Transit Use Enhance the Economic Efficiency of Urban Areas? Matthew P. Drennan and Charles M. Brecher
2011-05 The Effect of Homeownership on Geographic Mobility and Labor Market Outcomes Hernan Winkler
2011-06 Does Government Investment in Local Public Goods Spur Gentrification? Evidence from Beijing Siqi Zheng and Matthew E. Kahn
2011-07 Mitigating Undiscovered Risks Mark J. Garmaise
2011-08 Understanding the Solar Home Price Premium: Electricity Generation and "Green" Social Status Samuel Dastrup, Joshua Graff Zivin, Dora L. Costa and Matthew E. Kahn
2011-09 Homeownership Boom and Bust 2000 to 2009: Where Will the Homeownership Rate Go From Here? Stuart A. Gabriel and Stuart S. Rosenthal
2011-10 Labor Migration, Human Capital Agglomeration and Regional Development in China (revised) Yuming Fu and Stuart A. Gabriel
2011-11 Does Public Transit Use Enhance the Economic Efficiency of Urban Areas? Matthew P. Drennan and Charles Brecher
2011-12 Integration and Contagion in Housing Markets John Cotter, Stuart A. Gabriel and Richard Roll
2011-13 Anchoring and Housing Choice: Results of a Natural Policy Experiment Yuval Arbel, Danny Ben-Shahar and Stuart A. Gabriel
2011-14 Population Trends as a Counterweight to Central City Decline, 1950-2000 Leah Platt Boustan and Allison Shertzer
2011-15 School Desegregation and Urban Change: Evidence from City Boundaries Leah Platt Boustan
2011-16 India's Land Title Crisis: The Unanswered Questions Jonathan Zasloff
2010
2010-01 Evaluating Housing Supply Elasticity in Inter-city Spatial Equilibrium: Evidence from Chinese Urban Growth Yuming Fu, Siqi Zheng and Hongyu Liu
2010-02 Leaders, Followers and Laggards: Committing to Local Climate Actions in California
Rui Wang
2010-03 Migration and Economic Growth in China: The Role of Knowledge and Human Capital Spillovers
Yuming Fu and Stuart A. Gabriel
2010-04 Urban Policy Effects on Carbon Mitigation
Matthew E. Kahn
2010-05 Why Has California's Residential Electricity Consumption Been so Flat Since the 1980s? A Microeconometric Approach
Dora L. Costa
2010-06 Asymmetric Information, Adverse Selection, and the Pricing of CMBS
Xudong An, Yongheng Deng and Stuart A. Gabriel
2010-07 Energy Conservation "Nudges" and Environmentalist Ideology: Evidence from a Randomized Residential Electricity Field Experiment
Dora L. Costa and Matthew E. Kahn
2010-08 The Housing Market Effects of Discrete Land Use Regulations: Evidence from the California Coastal Boundary Zone
Matthew E. Kahn, Ryan Vaughn and Jonathan Zasloff
2010-09 Urban Adaptation to Low Probability Shocks: Contrasting Terrorism and Natural Disaster Risk
Matthew E. Kahn
2010-10 Local Scale Economies in Loan Sales and Access to Mortgage Credit: 1994-2008
Stuart A. Gabriel and Stuart S. Rosenthal
2010-11 Do the GSEs Expand the Supply of Mortgage Credit? New Evidence of Crowd Out in the Secondary Mortgage Market
Stuart A. Gabriel and Stuart S. Rosenthal
2010-12 Electric Usage Information and Public and Private Incentives: A Pilot Project
Victor Chen, Magali Delmas, Robert Gilbert, Bill Kaiser, Neil Lessem
2010-13 Income Inequality and Local Government in the United States, 1970-2000
Leah Boustan, Fernando Ferreira, Hernan Winkler, and Eric M. Zolt
2010-14 Racial Segregation and Poverty
Michael A. Stoll
2010-15 The Secret History of the Fair Housing Act
Jonathan Zasloff
2010-16 Does Public Transit Use Enhance the Economic Efficiency of Urban Areas?
Matthew P. Drennan and Charles M. Brecher
2010-17 Adopting Local Climate Policies: What Have California Cities Done and Why?
Rui Wang
2010-18 Moral Hazards: Special Purpose Vehicles, Bankruptcy Remoteness and Non-recourse Lending
Robert R. Bliss and Stephen D. Cauley
2010-19 The Misunderstood Consequences of Shelley v. Kraemer Yana Kucheva and Richard Sander
2009
2009-01 Can Inclusionary Zoning be an Effective and Efficient Housing Policy? A Review of the Literature and Evidence from Los Angeles and Orange Counties Vinit Mukhija
2009-02 CDO Market Implosion and the Pricing of Subprime Mortgage-Backed Securities Yongheng Deng, Stuart A. Gabriel and Anthony B. Sanders
2009-03 Racial/Ethnic Variation in Homeowners' Financial Burdens, 2000-2007 Theresa Firestine and Paul Ong
2009-04 Towards a System of Open Cities in China: Home Prices, FDI Flows and Air Quality in 35 Major Cities Siqi Zheng, Matthew E. Kahn and Hongyu Liu
2009-05 Measuring Urban Agglomeration Economies over Time with Office Rents Matthew P. Drennan and Hugh F. Kelly
2009-06 Rx for the R1: Sustaining the Neighborhood Dana Cuff and Per-Johan Dahl
2009-07 Valuing Toxic Assets: An Analysis of CDO Equity Francis A. Longstaff and Brett Myers
2009-08 Choose the Best Answer: Organizing Climate Change Negotiation in the Obama Administration Jonathan Zasloff
2009-09 After the Honeymoon: Relationship Dynamics Between Mortgage Brokers and Banks Mark J. Garmaise
2009-10 Is Conduit Lending to Blame? Asymmetric Information, Adverse Selection, and the Pricing of CMBS Xudong An, Yongheng Deng and Stuart A. Gabriel
2009-11 The Cost of Terror: Effects of the Second Palestinian Intifada on Jerusalem House Prices Yuval Arbel, Danny Ben-Shahar, Stuart Gabriel and Yossef Tobol
2009-12 Cities, Economic Development and the Role of Place Based Policies: Lessons for Appalachia Matthew E. Kahn
2009-13 The Greenness of Cities: Carbon Dioxide Emissions and Urban Development Edward L. Glaeser and Matthew E. Kahn
2009-14 A Comparative Anatomy of REITs and Residential Real Estate Indexes: Returns, Risks and Distributional Characteristics John Cotter and Richard Roll
2009-15 Demand Shocks, Strategic Defaults and the Dynamics of Commercial Real Estate Markets Stephen Day Cauley and Andrey D. Pavlov
2009-16 Housing Risk and Return: Evidence from a Housing Asset-Pricing Model Karl Case, John Cotter and Stuart Gabriel
2009-17 Population Growth across Chinese Cities: Urban Land Expansion versus Housing Density Response to Demand Shocks Yuming Fu, Siqi Zheng and Hongyu Liu
2008
2008-01 Walking the Walk: Do Green Beliefs Translate Into Green Travel Behavior? Matthew E. Kahn and Eric Morris
2008-02 Real Interest Rates, Expected Inflation, and Real Estate Returns: A Comparison of the U.S. and Canada Kuntara Pukthuanthong-Le and Richard W. Roll
2008-04 The Land Assembly Problem Revisited Rohan Pitchford
2008-05 Adoption of Voluntary Environmental Standards: The Role of Signaling and Intrinsic Benefits in the Diffusion of the LEED Green Building Standards Charles J. Corbett and Suresh Muthulingam
2008-06 Why Has House Price Dispersion Gone Up? Stijn Van Nieuwerburgh and Pierre-Olivier Weill
2008-07 Production and Work In The American Metropolis: A Macroscopic Approach Allen J. Scott
2008-08 TODs for Southern California: Challenges and Prospects Anastasia Loukaitou-Sideris
2008-09 Value Creation through Securitization: Evidence from the CMBS Market Xudong An, Yongheng Deng, and Stuart A. Gabriel
2008-10 The GSEs, CRA, and Homeownership in Targeted Underserved Neighborhoods Stuart A. Gabriel and Stuart S. Rosenthal
2008-11 Graduated Density Zoning Donald Shoup
2008-12 Moral Hazard and the Structure of Debt Contracts: the Efficiency of Non-Recourse Lending Robert R. Bliss and Stephen D. Cauley
2008-13 The Judicial Carbon Tax: Reconstructing Public Nuisance and Climate Change Jonathan Zasloff
2008-14 The Inclusionary Housing Experience in Southern California: An Evaluation of the Programs in Los Angeles and Orange Counties Vinit Mukhija, Lara Regus, Sara Slovin and Ashok Das
2008-15 Falling Behind: California's Interior Metropolitan Areas Michael Manville and Matthew P. Drennan
2008-16 Cities, Land Use, and the Global Commons: Genesis and the Urban Poliitics of Climate Change Katherine Trisolini and Jonathan Zasloff
2008-17 Escape From the City? The Role of Race, Income, and Local Public Goods in Post-War Suburbanization Leah Platt Boustan
2008-18 The Wealth-Consumption Ratio Hanno Lustig, Stijn Van Nieuwerburgh and Adrien Verdelhan
2008-19 Green Market Geography: The Spatial Clustering of Hybrid Vehicle and LEED Registered Buildings Matthew E. Kahn and Ryan K. Vaughn
2008-20 Environmentalism as a Determinant of Housing Supply Regulation Matthew E. Kahn
2008-21 Human Capital Accrual, Skill Complementarity, and Urban Migration: New Evidence from China Yuming Fu and Stuart A. Gabriel
2008-22 Spatial Variation In Foreclosures In Los Angeles Paul Ong and Deirdre Pfeiffer
2007
2007-01 Housing Wealth, Financial Wealth, and Comsumption: New Evidence from Micro Data Raphael Bostic, Stuart Gabriel and Gary Painter
2007-02 Secondary Markets, Risk, and Access to Credit Evidence From the Mortgage Market Stuart A. Gabriel and Stuart S. Rosenthal
2007-03 Why Real Estate Prices Don't Decline Following Demand Shocks Stephen Day Cauley and Andrey D. Pavlov
2007-04 Mobility, Residential Location, and The American Dream: The Intra-Metropolitan Geography of Minorty Home Ownership Stuart A. Gabriel and Gary Painter
2007-05 Liquidity, Return, and Order Flow Linkages Between REITs and the Stock Market Avanidhar Subrahmanyam
2007-06 NIMBY Opposition to Housing Development in Southern California Kim Haselhoff & Paul Ong
2007-07 Catastrophic Risk and Credit Markets Mark J. Garmaise and Tobias J. Moskowitz
2007-08 The Cross-Sectional Dispersion of Commercial Real Estate Returns and Rent Growth: Time Variation and Economic Fluctuations Alberto Plazzi, Walter Torous and Rossen Valkanov
2007-09 Alternative Variance Estimators for Pricing Options Robert Geske, Richard Roll and Yuzhao Zhang
2007-10 Land and Residential Property Markets in a Booming Economy: New Evidence from Beijing Siqi Zheng and Matthew E. Kahn
2007-11 Gentrification Trends in New Transit Oriented Communities: Evidence from Fourteen Cities that Expanded and Built Rail Transit Systems Matthew E. Kahn
2007-12 Why Do The Poor Live in Cities? The Role of Public Transportation Edward L. Glaeser, Mathew E. Kahn and Jordan Rappaport
2007-13 Non-Central City Support for, and Resistance to, Affordable Housing: Evidence from Southern California Kim Haselhoff and Paul Ong
2007-14 Optimal Pricing Strategy with Price Dispersion: New Evidence from the Tokyo Housing Market Diehand (Della) Zheng, Yongheng Deng, Stuart A. Gabriel and Kiyohiko G. Nishimura
2007-15 HUD Purchase Goals and Crowd Out: Do the GSEs Expand the Supply of Mortgage Credit? Stuart A. Gabriel and Stuart S. Rosenthal
2007-16 New Evidence on Trends in the Cost of Urban Agglomeration Matthew E. Kahn
2007-17 Modeling Long Memory in REITs John Cotter and Simon Stevenson