Alois Weigand
Last Name
Weigand
First name
Alois
Email
alois.weigand@unisg.ch
ORCID
Phone
+41 71 224 7059
Web Site
16 results
Now showing 1 - 10 of 16
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Item type:Publication, The Low-Carbon Rent Premium of Residential Buildings(Routledge (United Kingdom), 2026-06-26); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Residential Rent Externalities of Photovoltaic Systems: The Relevance of ViewIn a three-dimensional topographic model of Switzerland, we study how the view at photovoltaic (PV) systems affects residential real estate. Our hedonic difference-in-differences regressions provide evidence that the view at a PV system is associated with lower residential rents. We consider different view types to examine amplifiers and attenuators of these negative externalities. Using municipal voting results and data on electric vehicles, we document causal pathways of the effect that align with stated and lived preferences for sustainability. Similar causal pathways of negative externalities are evident through municipalities’ solar energy production potential and their local demand elasticities for housing.Type:journal articleJournal:Regional Science and Urban EconomicsVolume:114Scopus© Citations 2 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Do Local Governments Tax Homeowner Communities Differently?This article investigates whether and how strongly the share of homeowners in a community affects residential property taxation by local governments. Different from renters, homeowners bear the full property tax burden, irrespective of local market conditions, and the tax is more salient to them. “Homeowner communities” may hence oppose high property taxes in order to protect their housing wealth. By merging granular spatial data from a complete housing inventory in the 2011 German Census with historical homeownership rates and housing damages during the Second World War as sources of exogenous variation in local homeownership, we provide empirical evidence that otherwise identical jurisdictions charge significantly lower property taxes when the share of homeowners in their population is higher. This result is invariant to local market conditions, which suggests tax salience is the key mechanism behind this effect. Moreover, we find positive spatial dependence on tax multipliers, indicative of property tax mimicking by local governments.Type:journal articleJournal:Real Estate EconomicsVolume:52Issue:2 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Metro's night travel offer on the weekend and its impact on house prices(Elsevier, 2023-11-15); Scopus© Citations 7 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, COVID-19’s impact on real estate markets: review and outlookAs symbolized by vacant office buildings, empty shopping malls and abandoned flats in metropolitan areas, the new coronavirus disease 2019 has severely impacted real estate markets. This paper provides a comprehensive literature review of the latest academic insights into how this pandemic has affected the housing, commercial real estate and the mortgage market. Moreover, these findings are linked to comprehensive statistics of each real estate sector’s performance during the crisis. Finally, the paper includes an outlook and discusses possible future developments in each real estate segment.Type:journal articleJournal:Financial Markets and Portfolio ManagementVolume:35Issue:3Scopus© Citations 109 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Determinanten des Wohnungsbaus und deren Einfluss auf Wohnungspreise in qualitätsbezogenen TeilmärktenType:journal articleJournal:Swiss Real Estate JournalIssue:22 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Determining Land Values from Residential RentsThe value of land is determined by the locations’ attractiveness and the degree of regulation. When land regulations are binding, e.g. when a restriction on the maximum floor area ratio exists, the best use land price can be directly expressed as a function of the maximum floor area ratio and local amenities. We show theoretically and empirically how this approach can be used to determine land values from residential rents. From our empirical results, we derive two main sources for a monocentric structure of land prices. First, the location attractiveness of centrally located dwellings makes land prices more expensive. Second, as the maximum floor area ratio is high in central areas, the regulation works as a multiplier for land prices and inflates prices accordingly. Our model gives insights into the determinants of urban land prices and provides a useful approach for land appraisal in urban regions where land transactions are scarce.Type:journal articleJournal:LandVolume:10Issue:4Scopus© Citations 7 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Machine Learning in Empirical Asset PricingThe tremendous speedup in computing in recent years, the low data storage costs of today, the availability of “big data” as well as the broad range of free open-source software, have created a renaissance in the application of machine learning techniques in science. However, this new wave of research is not limited to computer science or software engineering anymore. Among others, machine learning tools are now used in financial problem settings as well. Therefore, this paper mentions a specific definition of machine learning in an asset pricing context and elaborates on the usefulness of machine learning in this context. Most importantly, the literature review gives the reader a theoretical overview of the most recent academic studies in empirical asset pricing that employ machine learning techniques. Overall, the paper concludes that machine learning can offer benefits for future research. However, researchers should be critical about these methodologies as machine learning has its pitfalls and is relatively new to asset pricing.Type:journal articleJournal:Financial Markets and Portfolio ManagementVolume:33Issue:1Scopus© Citations 30 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The Cross-Section of the Price-to-Rent Ratios(2026-03-26); ; This paper studies the cross-sectional variation in price-to-rent ratios across Swiss municipalities. Combining the user-cost-of-housing framework with the asset-pricing decomposition of the price-to-rent ratio, it analyzes how housing valuations are affected by expected rent growth, financing conditions, and local risk aversion. The analysis uses municipality-quarter data from Wüest Partner for 2011–2022 together with Swiss federal referendum outcomes to construct a municipality-level proxy for risk aversion. This proxy is constructed from the standardized residuals of first-stage cross-sectional regressions of referendum outcomes on political, socio-economic, and cultural characteristics. Estimates from two-way fixed-effects panel regressions show that higher expected rent growth is associated with higher price-to-rent ratios, while higher local risk aversion is associated with lower price-to-rent ratios. In addition, tighter financing conditions amplify the negative effect of local risk aversion on valuation multiples. These patterns also hold in the 2.5-room market segment, while in the 5.5-room segment, the baseline effect of local risk aversion is no longer statistically significant, consistent with the idea that the valuation of more expensive units is less sensitive to local household risk attitudes. The results are robust to alternative specifications of the risk-aversion measure and highlight the importance of behavioral heterogeneity for understanding housing-market valuation.Type:conference paper - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Private Equity Infrastructure Funds(Palgrave Macmillan, 2023-07-24); ; ;