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Crises in the Housing Market: Causes, Consequences, and Policy Lessons  

Carlos Garriga and Aaron Hedlund

The global financial crisis of 2007–2009 helped usher in a stronger consensus about the central role that housing plays in shaping economic activity, particularly during large boom and bust ... More

Economic Geography and Trade  

Anthony J. Venables

Online publication date:
Feb 2019
Economic activity is unevenly distributed across space, both internationally and within countries. What determines this spatial distribution, and how is it shaped by trade? Classical trade ... More

Economics of Agglomeration  

Jacques-François Thisse

Online publication date:
Mar 2019
Despite the drop in transport and commuting costs since the mid-19th century, sizable and lasting differences across locations at very different spatial scales remain the most striking ... More

Economics of Rural–Urban Migration  

Pei-Ju Liao and Chong Kee Yip

In the past century, many developing countries have experienced rapid economic development, which is usually associated with a process of structural transformation and urbanization. ... More

Geographic Proximity and Science Parks  

Albert N. Link and John T. Scott

Online publication date:
Sep 2018
Science parks, also called research parks, technology parks, or technopolis infrastructures, have increased rapidly in number as many countries have adopted the approach of bringing ... More

Geography of Growth and Development  

Esteban Rossi-Hansberg

The geography of economic activity refers to the distribution of population, production, and consumption of goods and services in geographic space. The geography of growth and development ... More

Geography, Trade, and Power-Law Phenomena  

Pao-Li Chang and Wen-Tai Hsu

This article reviews interrelated power-law phenomena in geography and trade. Given the empirical evidence on the gravity equation in trade flows across countries and regions, its ... More

Global House Prices: Trends and Cycles  

Hites Ahir and Prakash Loungani

Online publication date:
Mar 2020
On average across countries, house prices have been on an upward trend over the past 50 years, following a 100-year period over which there was no long-term increase. The rising trend in ... More

Macroeconomic Aspects of Housing  

Charles Ka Yui Leung and Cho Yiu Joe Ng

This article summarizes research on the macroeconomic aspects of the housing market. In terms of the macroeconomic stylized facts, this article demonstrates that with respect to business ... More

Spatial Pattern and City Size Distribution  

Tomoya Mori

Online publication date:
Feb 2020
Many large cities are found at locations with certain geographic and historical advantages, or the first nature advantages. Yet those exogenous locational features may not be the most ... More

Urban Sprawl and the Control of Land Use  

Alex Anas

Online publication date:
Jul 2019
Urban sprawl in popular sources is vaguely defined and largely misunderstood, having acquired a pejorative meaning. Economists should ask whether particular patterns of urban land use are ... More

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