Spatial Asset Pricing: A First Step

Francois Ortalo-Magne and Andrea Prat

Economica, 2016, vol. 83, issue 329, 130-171

Abstract: type="main" xml:id="ecca12171-abs-0001">

People choose where to live and how much to invest in housing and financial assets, including whether to buy or to rent their home. Traditionally, the first decision has been the domain of spatial economics, while the second has been analysed in finance. Spatial asset pricing combines the two sets of decisions in a tractable dynamic portfolio choice problem, which leads to an array of predictions on the geographical allocation of human capital, households portfolio over space and time, housing rents, housing and asset prices.

Date: 2016
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Working Paper: Spatial Asset Pricing: A First Step (2010)
Working Paper: Spatial Asset Pricing: A First Step (2010)
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