666 research outputs found

    Housing and capital in the 21st Century

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    Thomas Piketty’s Capital in the 21st Century has attracted public, policy and academic attention. Although there is a growing research literature on the formation, distribution, utilization and wider implications of housing wealth there has been little discussion of Piketty’s work in housing studies. This paper outlines and assesses the major contributions of Piketty, including re-emphasizing distribution and political economy perspectives within economics, modelling growth and distribution, establishing detailed long run patterns of wealth change and policy implications. The paper highlights the significance of shifting housing wealth in increasing inequalities in some countries: housing matters in macro-shifts. We also draw out the implications of house price and wealth growth for the balance of rentier vs. entrepreneurial forms of capitalism. If Piketty’s work is important for housing research, we also argue the converse, that housing research findings can strengthen his analysis. The stylized facts of advanced economy metropolitan growth suggest that housing market processes and wealth outcomes will drive higher inequality and lower productivity into the future unless housing and related policies change markedly. Piketty, strong on evidence and conceptualization is weak on policy development and housing studies can drive more effective assessments of change possibilities

    Municipal housing in Scotland: the long goodbye?

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    Preparation of an employee handbook

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    Thesis (M.B.A.)--Boston Universit

    Exploring the ‘middle ground’ between state and market: the example of China

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    Studies of housing systems lying in the ‘middle ground’ between state and market are subject to three important shortcomings. First, the widely used Esping-Andersen (EA) approach assesses only a subset of the key housing outcomes and may be less helpful for describing changes in housing policy regimes. Second, there is too much emphasis on tenure transitions, and an assumed close correspondence between tenure labels and effective system functioning may not be valid. Third, due attention has not been given to the spatial dimensions in which housing systems operate, in particular when housing policies have a significant devolved or localised emphasis. Updating EA’s framework, we suggest a preliminary list of housing system indicators in order to capture the nature of the housing systems being developed and devolved. We verified the applicability of this indicator system with the case of China. This illustrates clearly the need for a more nuanced and systematic basis for categorising differences and changes in welfare and housing policies

    The emergence and evolution of City Deals in Scotland

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    There is a resurgent policy emphasis on the role of city-regions as drivers of economic growth. Officials and leaders in such metropolitan areas, however, are confronted with challenges relating to administrative fragmentation, achieving alignment with national policy objectives, and demonstrating the capabilities to plan, finance and deliver effective policy interventions and investments. As a response to these challenges, policymakers are fashioning new governance arrangements, attached to experimental policy mechanisms, to develop urban policy. Of note, City Deals have recently emerged in the UK, and this paper charts their evolution across the UK, with a focus on the devolved administrations in particular. The paper ends with some reflections and questions about their roll out in Scotland

    Regional house price cycles in the UK, 1978-2012: a Markov switching VAR

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    There is an extensive literature on UK regional house price dynamics, yet empirical work focusing on the duration and magnitude of regional housing cycles has received little attention. This paper employs Markov Switching Vector auto regression (MSVAR) methods to examine UK house price cycles in UK regions at NUTS1 level. The research findings indicate that the regional structure of the UK house market is best described as two large groups of regions with marked differences in the amplitude and duration of the cyclical regimes between the two groups. These differences have implications for the design of both macroeconomic and housing sector policies
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