April 12, 2017
- Using exogenous variations in the market value of firms’ real estate assets caused by fluctuations in local commercial real estate prices, this article, Managing Innovation: The Role of Collateral, study how collateral shocks impact corporate innovation. I find evidence that collateral shocks change the quantity, quality, and trajectory of innovation.
- This paper, Small and Medium Multifamily Housing Units: Affordability, Distribution, and Trends, map the geographic distribution of small and medium multifamily properties, describe their characteristics, and evaluate the degree to which they contribute to affordability within their specific market areas.
- In this paper, The Effect of School Capital Investments on Local Housing Markets: Evidence from the Interest-Free Construction Bond in California, the author investigates what effect school capital investments have on housing values and household location choice in the context of the Tiebout model. This research identifies an exogenous variation in school capital investments by exploiting the lottery allocation of entitlement to an interest-free construction bond among districts in California.