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Gesucht nach "Rental of real property".
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  • Publikationen // 16.03.2021

    the welfare implications of property taxation. Using a sufficient statistics approach, we show that the tax incidence depends on how housing prices, labor and other types of incomes as well as public [...] to property tax changes. Empirically, we exploit the German institutional setting with 5,200 municipal tax reforms for identification. We find that higher taxes are fully passed on to rental prices [...] Combining reduced form estimates with our theoretical framework, we simulate the welfare effects of property taxes and show that they are regressive.

  • Publikationen // 30.11.2020

    only support financially constrained firms in the protection of intellectual property, but rather lead to disproportionate and excessive filings of low-quality patents. In a nutshell, China’s innovation policy [...] technology transfer, screening of Chinese overseas investments and acquisitions, as well as the relocation of production sites from China to other countries signal the beginning of such disengagement. China [...] there is still a long way before it reaches the status of a high-income country. Government intervention, either through subsidies or state ownership of firms, has often resulted in poor outcomes, when compared

  • Publikationen // 15.10.2018

    direct real estate and property shares, as well as US real estate investment trust returns, exhibit strong mean reversion. By contrast, US direct real estate returns show a considerable mean aversion effect [...] return volatility of direct real estate markets, long-term investors need not be concerned about the choice of the parameter value used to unsmooth appraisal-based returns, because estimates of long-term volatility [...] structure of return volatility is estimated for both UK and US direct and securitised commercial real estate, using vector autoregressions. In a similar manner to the general stock market, returns of UK direct

  • Veranstaltungen // 19.07.2018

    percent of the initial local population is associated with a lower average rental price of 0.51 % in the last quarter of 2015, and a lower average rental price of 0.93 % in the first quarter of 2016. IV [...] accommodations. Our finding of a negative price effect is at odds with the majority of studies which have investigated the consequences of immigration for local property markets at the county or city [...] This paper studies the impact of the 2015 mass arrival of refugees to Germany on residential housing rents at county level. Using unique data for 2014 and 2015 on end of year (EoY) county-level refugee

  • Veranstaltungen // 06.09.2012

    suffered large real- world losses following a natural disaster. Using the margins of the 2011 Australian foods (Brisbane) as a natural experimental setting, we find that homeowners who were victims of the foods [...] and face large losses in property values are 50% more likely to opt for a risky gamble – a scratch card giving a small chance of a large gain ($500,000) - than for a sure amount of comparable value ($10) [...] ($10). This finding is consistent with prospect theory predictions of the adoption of a risk- seeking attitude after a loss. ZEW, L 7,1 D-68161 Mannheim

  • Publikationen // 23.05.2014

    Intellectual Property (IP) Box regimes that provide substantially reduced rates of corporate tax for income derived from important forms of intellectual property. We describe the key features of the policies [...] policies and incorporate them into forward-looking measures of the cost of capital and the effective average tax rate. We show that the treatment of expenses relating to IP income is particularly important [...] regimes attempt to link the tax benefit to real activities, others have designed a policy targeted at the income streams associated with intellectual property. A key concern is the role that IP Boxes may

  • Publikationen // 09.07.2009

    patent protection partially mitigates the influence of uncertainty. © 2011 The President and Fellows of Harvard College and the Massachusetts Institute of Technology. [...] However, the size of the R&D stimulus from patent protection is far from clear because it depends on how effective patents are as a mechanism for appropriating returns. Drawing on real options investment [...] : patents reduce the effect of market uncertainty on the firm’s investment decision. We find that firm-level R&D investment falls in response to higher levels of uncertainty, but that patent

  • Publikationen // 21.08.2006

    Real options investment theory predicts current investment falls as uncertainty about market returns increases. In the case of R&D investment, which is usually considered an irreversible form of investment [...] current R&D investment. Our empirical results support both the prediction of real options theory and the mitigating effect of patent protection. Dieses Discussion Paper wurde überarbeitet, [...] the real options prediction about the R&D investment-uncertainty relationship and further considers how patent protection influences this relationship. Patent protection, by limiting the threat of market

  • Publikationen // 03.07.2014

  • Publikationen // 18.02.2011

    In der vorliegenden Untersuchung wird das Finanzierungsverhalten deutscher Wohnungsunternehmen analysiert. In dieser Branche sind in Deutschland Unternehmen verschiedener Rechtsformen und Größenordnun

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