This paper investigates how changes in the central bank policy and retail mortgage rates
affected real housing prices in New Zealand during the period 1999–2009. We find that real …

In the hedonic model, implicit market prices can be interpreted as the present values of rents
per unit of each hedonic characteristic. But when rents rise, there may be substantial value …

This paper examines a firm's debt level, investment timing, and investment scale choices in
a continuous-time model where the output price of a good that the firm produces depends on …

This article investigates how a corporate tax holiday affects a firm's incentive to invest when
irreversibility interacts with uncertainty. The firm has a monopoly right to exercise a single, …

This article investigates how a policy-maker should choose a density ceiling and how the
optimal policy is affected by the underlying demand and technology parameters. We assume …

This article compares the investment and financing decisions of a firm that adopts a ‘first‐best’
strategy with those of a firm that adopts a ‘second‐best’ strategy. The former issues bonds …

This article employs a real options framework to investigate the design of taxation on both
land value and development in a competitive real estate market. We assume that developed …

We investigate urban spatial development assuming that landowners irreversibly develop
property in an uncertain environment. Unlike the standard monocentric city model, we assume …

… Material preparation, data collection and analysis were performed by Jyh-Bang Jou and
Tan (Charlene) Lee. The first draft of the manuscript was written by Jyh-Bang Jou and Tan (…

… Jyh-Bang Jou is at Massey University Albany Campus, JBJou@massey.ac.nz and Tan (Charlene)
Lee is at Auckland University of Technology charlene.lee@aut.ac.nz. The authors are …