The Spatial Dimension of US House Price Developments

Spatial heterogeneity and spatial dependence are two well established aspects of house price developments. However, the analysis of differences in spatial dependence across time and space has not gained much attention yet. In this paper we jointly analyze these three aspects of spatial data. We apply a panel smooth transition regression model that allows for heterogeneity across time and space in spatial house price spillovers and for heterogeneity in the effect of the fundamentals on house price dynamics. We find evidence for heterogeneity in spatial spillovers of house price developments across space and time: house price developments in neighboring regions spill over stronger in times of increasing neighboring house prices compared to declining neighboring house prices. This is interpreted as evidence for the disposition effect. Moreover, heterogeneity in the effect of the fundamentals on house price dynamics could not be detected for all variables; real per capita disposable income and the unemployment rate have a homogeneous effect across time and space

Land market distortions: Theory and evidence from Guatemala

Farm size and land allocation are important factors in explaining lagging agricultural productivity in developing countries. This paper formally examines the effect of land market distortions on the allocation of land across farmers and overall agricultural productivity. We first develop a theoretical framework to model the optimal size distribution of farms and assess to what extent market distortions can explain non-optimal land allocation and output inefficiency. We then calibrate the model to the case of Guatemala and evaluate potential drivers of the distortions across locations. We find that aggregate agricultural productivity across regions is over the range of 54-95% of the efficient output for different major crops considered. We evaluate alternative factors correlated with these distortions and provide some policy recommendations to improve efficiency. Acknowledgement : We thank the Instituto Nacional de Estadistica (INE) and the Secretaria de Seguridad Alimentaria y Nutricional (SESAN) of Guatemala for their help in accessing and collecting part of the data used in the analysis. Francisco Ceballos provided excellent research assistance. All errors are our own

Bioinformatic and expression analysis of the Brassica napus L. cyclophilins

International audienceCyclophilins (CYPs) are a group of ubiquitous proteins characterized by their ability to bind to the immunosuppressive drug cyclosporin A. The CYP family occurs in a wide range of organisms and contains a conserved peptidyl-prolyl cis/trans isomerase domain. In addition to fulfilling a basic role in protein folding, CYPs may also play diverse important roles, e.g. in protein degradation, mRNA processing, development, and stress responses. We performed a genome-wide database survey and identified a total of 94 CYP genes encoding 91 distinct proteins. Sequence alignment analysis of the putative BnCYP cyclophilin-like domains revealed highly conserved motifs. By using RNA-Seq, we could verify the presence of 77 BnCYP genes under control conditions. To identify phloem-specific BnCYP proteins in a complementary approach, we used LC-MS/MS to determine protein abundances in leaf and phloem extracts. We detected 26 BnCYPs in total with 12 being unique to phloem sap. Our analysis provides the basis for future studies concentrating on the functional characterization of individual members of this gene family in a plant of dual importance: as a crop and a model system for polyploidization and long-distance signalling