Storefronts often remain empty for months or years at a time, even in some of the world’s highest-rent retail districts. Between 2015 and 2019, for example, empty storefronts…
Erica Moszkowski, Daniel Stackman
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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…
What is the effect of mortgage debt reductions that reduce payments in the long-term but not in the short-term? In a new paper using data from a recent government…
This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
W13-7: What is the incidence of housing vouchers? In a frictionless, price-taking equilibrium, increased generosity of a narrowly-targeted subsidy causes increases in…