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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…
Blog

Local Responses to Global Climate Change

Jill Schmidt • March 14, 2018

From September’s destructive hurricanes to the devastating fires in California, recent natural disasters across the US have underscored the many ways in which climate change…