| Item Type |
Monograph
(Working Paper)
|
| Abstract |
This paper empirically analyzes the relation between local liquidity in rental housing markets and urban agglomeration e�ects. Using listed rent o�ers from online market platforms, I study the cross-sectional variation of rental market liquidity. Local liquidity is negatively related to the distance to nearby located urban Agglomeration centers, manifesting in a decreasing liquidity gradient. I show that Agglomeration externalities expose local rental markets to a systematic liquidity risk. Furthermore, more thinly traded rental markets o�er lower capitalization rates for investors. |
| Authors |
Ruf, Daniel |
| Language |
English |
| Subjects |
finance |
| HSG Classification |
contribution to scientific community |
| HSG Profile Area |
None |
| Date |
16 November 2016 |
| Publisher |
SoF - HSG |
| Place of Publication |
St. Gallen |
| Series Name |
School of Finance Working Paper Series |
| Number |
2016/23 |
| Number of Pages |
68 |
| Depositing User |
Geraldine Frei-Böbel
|
| Date Deposited |
14 Feb 2017 09:25 |
| Last Modified |
30 Sep 2022 00:28 |
| URI: |
https://www.alexandria.unisg.ch/publications/250400 |
Agglomeration Effects and Liquidity Gradients in Local Rental Housing Markets
![[img]](http://www.alexandria.unisg.ch/style/images/fileicons/oa_orange.png)
