Papers
The role of residential spatial structure in monetary policy transmission
Work in progress.
Urban spatial distribution of housing liquidity
With Francisco Amaral and Jonas Zdrzalek, work in progress.
Work in progress.
Urban spatial distribution of housing liquidity
With Francisco Amaral and Jonas Zdrzalek, work in progress.
We examine the relation between location, liquidity, and prices in urban housing markets. We use newly constructed geospatial datasets on German and U.S. cities to show that housing liquidity and prices jointly decrease with distance to the city center. Using our more detailed German property-level data, we estimate a spatial housing search model and show that the cost of travel to the city center explains the joint spatial distribution of liquidity and prices. In a counterfactual analysis, we remove search frictions from our model. We find that frictional illiquidity lowers prices in the outskirts by 7% relative to the center and explains 19% of the spatial price gradient.
Tools
nightlightstats: an R package for analyzing nighttime light satellite imagery
With Jakob Miethe, available on Github.
With Jakob Miethe, available on Github.
This R package allows calculating user-specified statistics for regional nighttime light satellite data. The package processes yearly DMSP data ranging from 1992 to 2013 and monthly VIIRS data beginning in April 2012. You can either provide own shapefiles or have shapfiles automatically downloaded from GADM if you are working with countries or their administrative divisions.