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Working Papers

Option Value and Storefront Vacancy in New York City

Erica Moszkowski, Daniel Stackman • April 12, 2023

Why do storefronts remain empty for more than a year in some of the world’s highest-rent retail districts? Landlords with vacancies derive option value from two sources of…
Working Papers

Housing and Wealth Accumulation: Intergenerational Impacts

Thomas Boehm, Alan Schlottmann • October 15, 2001

It has long been argued that promoting homeownership among low-income households is worthwhile because owned housing may be an important source of savings for these families…