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Working Papers

Option Value and Storefront Vacancy in New York City

Erica Moszkowski, Daniel Stackman • April 12, 2023

Why do storefronts remain empty for more than a year in some of the world’s highest-rent retail districts? Landlords with vacancies derive option value from two sources of…
Journal Article

Public Housing Authorities in the Private Market

Whitney Airgood-Obrycki, Rachel Garshick Kleit, Anaid Yerena • April 29, 2019

Decreasing federal resources since the 1980s, policy devolution to the local level, and expansion of market-based approaches for affordable housing delivery have resulted in…