The Stock of Private Real Estate Capital in U.S. Metropolitan Areas

In this paper, we describe the construction of estimates of private real estate capital for each of 242 MSAs, annually, for 1982 through 1994. We compute three such series: (1) total private real estate capital (residential and nonresidential); (2) private single-family residential capital; and (3) private income property capital (multifamily housing plus nonresidential real estate , or (1) less (2)). We then model the determinants of each series, and use the results to predict the value of the capital stock for a larger set of 295 MSAs.

Cost and benefits of rent control in Kumasi, Ghana

Over the past forty years, rent control has been a feature of housing in Ghana. This study focusses on the housing market in Kumasi, the second largest city in Ghana. The authors examine the characteristics of the rent control regime in force there, and assess the costs and benefits of rent control, on landlords and on tenants, and its effect on the housing stock. Rent control has been successful in ensuring that housing is very inexpensive for most households, in both absolute terms and in the proportion of income devoted to rent. Thesecontrols have deprived landlords of economic returns on their property, causing them to withdraw stock from renting to use for their own family members and to reduce maintenance. However, rent control is not the only constraint on the housing market, in Kumasi or in Ghana. The paper also describes other supply side and regulatory constraints; such as those affecting land, finance, and choice of building design and materials. A number of options for relaxation/decontrol are studied with the aid of a simple present value model. Along with decontrol of new construction it is recommended that floating up and out of controls over a five year period should be considered, along with policy changes to ensure ready supplies of land, finance, and building materials. Such policies are essential, given that private housing investment provides the great majority of rooms in Ghanaian urban areas.Non Bank Financial Institutions,Banks&Banking Reform,Housing Finance,Housing&Human Habitats,Economic Theory&Research

Inclusion complexes of β-cyclodextrin with tricyclic drugs: an X-ray diffraction, NMR and molecular dynamics study

Tricyclic fused-ring cyclobenzaprine (1) and amitriptyline (2) form 1:1 inclusion complexes with β-cyclodextrin (β-CD) in the solid state and in water solution. Rotating frame NOE experiments (ROESY) showed the same geometry of inclusion for both 1/β-CD and 2/β-CD complexes, with the aromatic ring system entering the cavity from the large rim of the cyclodextrin and the alkylammonium chain protruding out of the cavity and facing the secondary OH rim. These features matched those found in the molecular dynamics (MD) simulations in solution and in the solid state from single-crystal X-ray diffraction of 1/β-CD and 2/β-CD complexes. The latter complex was found in a single conformation in the solid state, whilst the MD simulations in explicit water reproduced the conformational transitions observed experimentally for the free molecule

Defining spatial housing submarkets: Exploring the case for expert delineated boundaries

Although there are numerous reasons for real estate analysts to construct spatial housing submarkets, there is little clarity about how this might best be done in practice. The existing literature offers a variety of techniques including those based on principal components analysis, cluster analysis and a range of other statistical procedures. This paper asks whether, given their market expertise and their role in disseminating information, shaping search patterns and informing bid formation, real estate agents might offer an effective but less data intensive method of submarket construction. The empirical research is based on an experiment that compares the predictive of different sets of submarket boundaries constructed by using either standard statistical methods or through consultation with real estate agents and other market analysts. The analysis draws on housing transactions data from Istanbul, Turkey. While the results do not demonstrate the outright superiority of any single method, they do suggest that expert-defined boundaries tend to perform at least as well as alternative construction techniques. Importantly, the results suggest that agent-based methods for delineating submarket boundaries might be used with a degree of confidence by real estate analysts and planners in market contexts where rich micro-datasets are not readily available. This has been one of the constraints internationally on wider adoption of submarket boundaries as an analytical tool

Controlling for transactions bias in regional house price indices

Transactions bias arises when properties that trade are not a random sample of the total housing stock. Price indices are susceptible because they are typically based on transactions data. Existing approaches to this problem rely on Heckman-type correction methods, where a probit regression is used to capture the differences between properties that sell and those that do not sell in a given period. However, this approach can only be applied where there is reliable data on the whole housing stock. In many countries—the UK included—no such data exist and there is little prospect of correcting for transactions bias in any of the regularly updated mainstream house price indices. Thispaper suggests a possible alternative approach, using information at postcode sector level and Fractional Probit Regression to correct for transactions bias in hedonic price indices based on one and a half million house sales from 1996 to 2004, distributed across 1200 postcode sectors in the South East of England

Infomobility and open data: are they easy partners?

L’Infomobilità è un tema sempre più dibattuto circa le sue potenzialità di aumentare i livelli di efficienza e di efficacia dei sistema di mobilità grazie alla raccolta, elaborazione e diffusione di una maggiore informazione ad essi relativa attraverso l’utilizzo dell’ICT. Diversi studi empirici hanno enfatizzato l’inadeguatezza degli attuali sistemi di Infomobilità nel migliorare i sistemi di trasporto. Al fine di superare i problemi che ostacolano l’efficace sfruttamento dell’Infomobilità, questo lavoro studia i potenziali benefici derivanti dall’adozione di un approccio Open Data per la gestione delle informazioni. La tesi si compone di 3 articoli. Il primo studio si propone di chiarire il significato e i principali elementi costitutivi dell’Infomobilità così da rispondere al livello di frammentazione ed eterogeneità che caratterizza la letteratura accademica che si è occupata di questo tema. Il secondo articolo identifica le dimensioni di qualità che devono essere considerate per la valutazione dei sistemi di Infomobilità. Infatti, la letteratura manca ancora di studi che analizzino la capacità di tali sistemi di fornire ai gestori e agli utenti dei sistemi di trasporto l’informazione che essi necessitano. Infine, il terzo articolo esplora le reali potenzialità dell’approccio Open Data nel supportare il raggiungimento degli obiettivi dell’Infomobilità sopra menzionati.Infomobility refers to the use of ICTs in the field of transportation for increasing the efficiency and effectiveness of transport systems. It is a subject increasingly debated both in the academics and professionals’ worlds as its capabilities for improving traffic operations and services through the collection, elaboration and distribution of information about transport systems to mobility managers and travelers. However, the effectiveness of Infomobility systems is still questioned. Some empirical studies have highlighted the inadequacy of such systems in supporting the improvement of transport systems. In order to overcome the actual deficiencies hampering the exploitation of Infomobility, our study investigates the potential benefits of adopting the Open Data approach in the Infomobility sector. The thesis is structured as a collection of 3 papers focusing on 3 main issues of the Infomobility field. First, we clarify what Infomobility means and what it consists in, since we found the literature on this theme to be very fragmented and heterogeneous. Second, we identify the dimensions to be considered in order to assess the Infomobility systems. Indeed, even if it is often emphasized the dissatisfaction for the present exploitation of Infomobility, the capability of these Systems to provide mobility managers and travelers with the information that they need is a matter still unexplored. Finally, once understood the Infomobility meaning and identified how to assess its effectiveness, we investigate the real potentials of Open Data in supporting the achievement of the Infomobility goals.DIPARTIMENTO DI INGEGNERIA GESTIONALE27RANGONE, ANDREACORSO, MARIAN

The Abundance and Distribution of Transparent Exopolymer Particles in the Turbidity Maximum Region of Chesapeake Bay

Transparent exopolymer particle (TEP) concentrations were measured in the turbidity maximum (ETM) region of Chesapeake Bay during eight research cruises over a two-year period. TEP concentrations ranged from 2500 ug XG eq l^-1 and accounted for an estimated average of 31% ± 14 of POC. Spatially averaged TEP and chl a concentrations were positively correlated over the two year period, although these parameters were rarely correlated within cruises. Peak TEP concentrations were often separated from chl a maxima, suggesting that formation and concentration processes are more responsible for TEP concentrations than the proximity to precursor source material. Significant correlations between TEP and phaeophytin, POC, DOC, TSS and level of stratification were observed during some sampling periods. Settling tube experiments revealed a positive correlation between TEP concentration and the fraction of settling particulate matter. A hypothetical model for TEP formation and concentration in estuaries is proposed

Enhancing a geographic regression discontinuity design through matching to estimate the effect of ballot initiatives on voter turnout

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/109765/1/rssa12056-sup-0001-SuppInfo.pdfhttp://deepblue.lib.umich.edu/bitstream/2027.42/109765/2/rssa12056.pd

Teoria degli Insiemi in una logica paraconsistente

Utilizziamo una particolare logica rilevante (paraconsistente) per ricostruire la teoria ingenua degli insiemi senza che questa scada nella banalità. L'obiettivo del testo è mostrare come una logica più debole possa produrre una teoria soddisfacente gestendo le contraddizioni. Metteremo in luce alcune difficoltà formali mentre mostreremo alcuni teoremi insiemistici basilari. Infine cercheremo di definire i numeri ordinali

L'OPERA LIRICA IN VIDEO. Un caso d'eccellenza Opera Streaming

L'opera lirica è una tipologia di spettacolo che affonda le sue radici nella storia italiana, che oggi ha bisogno di sostegni finanziari per sopravvivere. Opera Streaming è uno dei progetti che mira a dar nuova vita alle fondazioni liriche utilizzando le nuove tecnologie e in particolare le piattaforme di streaming per far sì che l'opera possa raggiungere un pubblico più ampio, nuovo, che si appassioni a questo genere. In questa analisi, si indagano le iniziative e i fondi stanziati per la cultura in Italia ed in Europa fino ad oggi, si ripercorre la storia dei teatri di tradizione dell'Emilia Romagna e i progetti, presenti e futuri, che possono intervenire a dare una nuova vitalità a un mondo, quello dell'opera lirica, pieno di tradizione ma anche di argomenti attuali, utilizzando il mezzo video per aumentarne la visibilità