Together with Piet Eichholtz and David Geltner, I have written a new paper on land assembly and urban renewal spanning 180 years. It has just been accepted for publication in Regional Science and Urban Economics.
Inner city redevelopment frequently involves the assembly of small lots into bigger ones. We analyze joint lot development and the influence of coordination and transaction costs of land assembly on the exercise of the redevelopment option, using Amsterdam micro housing information for 1832, 1860 and 2015. In all, we have a complete set of building structure and household characteristics for dwellings on almost 30,000 lots for each of these years. We estimate a logit model to predict joint lot redevelopment, based on structural characteristics of lots and dwellings and on social characteristics of their occupants.The results show that both types of characteristics significantly explain land assembly, and the regression coefficients adhere to the theoretical land assembly literature. This paper contributes importantly to our knowledge of the specific land parcel and structural physical characteristics that impact redevelopment. To our knowledge, this is the first paper to study the joint characteristics of the potentially combinable lots, and to document and quantify the role of social characteristics in land assembly.
Here the full manuscript
Notes: The maps above provide information on the pairwise redevelopment of lots between 1832 and 1860, and between 1832 and 2015. Redeveloped lots are denoted in red, unchanged lots in blue. The maps are based on Amsterdam’s cadastral maps for 1832, 1860, and 2015.
Using the fantastic indices estimated by Eitrheim and Erlandsen (2004), Arne Eichholtz visualised the long term price dynamics (or rather the lack thereof in most years) for Norwegian cities.
- Eitrheim, Ø. and S. Erlandsen (2004). “House price indices for Norway 1819–2003”, in: Eitrheim, Ø., Klovland, J.T., Qvigstad, J.F. (Eds.), Historical Monetary Statistics for Norway. Norges Bank, Oslo, pp. 349–375.
- Grytten, O.H., 2004. A Consumer Price Index for Norway 1516-2003, in: Eitrheim, Ø., Klovland, J.T., Qvigstad, J.F. (Eds.), Historical Monetary Statistics for Norway. Norges Bank, Oslo, pp. 518–519.
- SSB.no (2016). Consumer Price Index
- SSB.no (2016). House Price Indices
The new project my brother Wieland is heavily involved in is making great strides towards establishing a new market for small jobs in Spain: jobMapp aims to connect jobbers with potential customers. While I am not sure I would hire somebody to to my household chores, I am very excited to see that one can now arrange deliveries of documents and small parcels in Madrid through a dedicated website: https://jobmapp.com/servicios/mensajeria-en-madrid
What will be next? Pool cleaning? Redecorating? Moving services? Maid and cleaning services?
One of my research paper has been accepted for publication in the
Journal of Real Estate Finance and Economics:
Cyberspace is no different from traditional cities, at least in economic terms. Urban economics governs the creation of ew space on the Internet and explains location choices and price gradients in virtual space. This study explores registration dynamics in the largest primary market for virtual space: Internet domain names. After developing a framework for domain registrations, it empirically tests whether domain registrations are constrained by the depletion of unregistered high quality domain names. Estimations based on registrations of COM domain names suggest that the number of domains expands substantially slower than the growth in overall demand for domain space. Supplying alternative domain extensions can relax the shortage in domains in the short term.
Read full paper: Monocentric Cyberspace (PDF)
A few months ago, serendipity led me to four prints by my great-grandfather August Potuczek. I do not get tired exploring their fine details (check out the water in the first one!) and overall composition. Links to high resolution scans are available below. Enjoy.
Vor einigen Monaten erstand ich in einen Antiquariat vier Radierungen meines Urgroßvaters August Potuczek. Sie hängen nun in meinem Büro. Ich betrachte sie oft und freue mich über die Komposition – und über die kleinen Überraschungen und Feinheiten, die man erst beim wiederholten Ansehen findet.
Brücke in Brünn
Höhere Auflösung: 300ppi, JPG (16.5 MB) Vollauflösung: 1200ppi, TIF (424 MB)
Rialto Brücke, Venedig
) Vollauflösung: 1200ppi, TIF (365 MB)
) Vollauflösung: 1200ppi, TIF (335 MB)
Vollauflösung: 1200ppi, TIF (427 MB)
A few months ago, I have been retained as an expert witness in a case of allegedly false and misleading advertising by a new gTLD registry. I am now very happy to report that the Judge has granted the Defendants’s motion for summary judgement, deciding in favour of “my” side. The memorandum opinion, among other things, clearly reiterates that “correlation is not causation”, which obviously resonates very well with me.
Katharina Knoll, Moritz Schularick, Thomas Steger provide a great overview and analysis of historical house prices around the world: http://www.dallasfed.org/assets/documents/institute/wpapers/2014/0208.pdf
They find that “house prices in most industrial economies stayed constant in real terms from the 19th to the mid-20th century, but rose sharply in recent decades.”
I have updated my GPG key from 1024 to 4096 bytes. For those who would like to send me encrypted emails (something I am very fond of), here is a link to my new public key:
Public GPG Key Thies Lindenthal