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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…
Working Papers

Renters’ Responses to Financial Stress During the Pandemic

Whitney Airgood-Obrycki, Ben Demers, Solomon Greene, Chris Herbert, Alexander Hermann, David Luberoff, Sophia Wedeen • April 8, 2021

The COVID pandemic has had a particularly large impact on the financial well-being of renters in the US, and over the past year millions have struggled to pay rent. While…