CRERC Publications

2024

*Ref*	Research Title	Authors
01/24	Between Carrots and Sticks, from Intentions to Actions: Behavioural Interventions for Housing Decisions	Bao,Helen X.H
02/24	Political Uncertainty and Carbon Emission Trading: Evidence from China	Tang,He Tony and Bao,Helen X.H
03/24	Understanding Local Government Debt Financing of Infrastructure Projects in China: Evidence based on Accounting Data from Local Government Financing Vehicles	Bao, H.X.H., Wang, Z. and Wu, R.L.
04/24	Social capital and the effectiveness of land use policies: Evidence from rural China	Bao, H.X.H., Jiang, Y., Wang, Z. and Feng, L.
05/24	Is hiding my first name enough? Using behavioural interventions to mitigate racial and gender discrimination in the rental housing market	Bao, H.X.H
06/24	Unpacking the effects of rural homestead development rights reform on rural revitalization in China	Zhao,Qianyu., Bao, H.X.H., Yao,Shurong

2023

Ref	Research Title	Authors
01/23	Good growth, bad growth: Market reaction to capital raising for REIT expansion	Mansley,Nick;, Wang, Zilong;, Weng,Xiaoyu;, Zhang,Wenjing
02/23	Reference Dependence in the UK Housing Market	Bao,Helen X.H and Saunders, Rufus
03/23	Housing Wealth Distribution, Inequality, and Residential Satisfaction	Bao,Helen X.H and Meng, Chunming Charlotte
04/23	Political Institutions and Corporate Risk-Taking: International Evidence	Bao,Helen X.H and Cardoza,Rohan
05/23	Assessing the Ecological Impacts of Coastal Reclamation: An Integrated Index System	Qiu, L. and Bao,Helen X.H
06/23	Building trust after pollution emergency: A strategic perspective on corporate social responsibility	Ma, Y., Ding, Y., Wang, Z., & Zhang, W.
07/23	The Effect of the Policy Mix of Green Credit and Government Subsidy on Environmental Innovation.	Ma, Y., Sha, Y., Wang, Z., & Zhang, W.
08/23	Social Capital, Environmental Justice and Carcinogenic Waste Releases: US County-level Evidence	Ataullah, A., Coleman, S., Le, H., & Wang, Z
09/23	Do shared E-bikes reduce urban carbon emissions?	Li, Q., Fuerst, F and Luca, D

2022

Ref	Research Title	Authors
01/22	Building Retrofit Hurdle Rates and Risk Aversion in Energy Efficiency Investments	Lai,Yuan; Papadopoulos,Sokratis; Fuerst,Franz; Pivo,Gary; Sagi,Jacob; Kontokosta,Constantine.E
02/22	Raising the Bar (19)	Elhorst,Paul; Abreu,Maria; Amaral,Pedro; Bhattacharjee,Arnab; Bond-Smith,Steven; Chasco,Coro; Corrado,Luisa; Ditzen,Jan; Felsentein,Daniel; Furest,Franz; McCann,Philip; Monastiriotis,Vassilis; Quatraro,Francesco; Temursho,Umed and Yu,Jihai
03/22	Behavioural Land Use Policy Studies: Past, Present, and Future	Bao,Helen X.H. and Robinson, Guy M.,
04/22	Behavioural Interventions for Micro-mobility Adoption: Low-hanging Fruits or Hard Nuts to Crack?	Bao,Helen X.H. and Lim,Yi,
05/22	Tradable Parking Permits as a Transportation Demand Management Strategy: A Behavioural Investigation.	Bao,Helen X.H. and Ng,Joelle,
06/22	Improving Food Security through Entomophagy: Can Behavioural Interventions Influence Consumer Preference for Edible Insects?	Bao,Helen X.H. and Song,Y
07/22	Modelling sustainable rents for estimation of long-term or fundamental values of commercial real estate	Crosby,Neil;, Devaney,Steven;, Lizieri,Colin; and Mansley,Nick;,
08/22	Wandering in the gray: The pricing of housing restricted by land use regulation in Beijing, China	Li,Ling and Xia,Fangzhou
09/22	On the Strategic Timing of Sales by Real Estate Developers: To Wait or to Presell?	Li,Ling; Bao,HelenX.H. and Chau,Kwong Wing
10/22	Local Beta: Has Local Real Estate Market Risk Been Priced in REIT Returns?	Zhu,Bing and Lizieri,Colin
11/22	Urban land valuation with bundled good and land residual assumptions	Clapp,J and Lindenthal,T

2021

Ref	Research Title	Authors
01/21	Pricing Climate Risk: Are Flooding and Sea Level Rise Capitalised in Australian Residential Property?	Fuerst,Franz and Warren-Myers,Georgia
02/21	Do Specialist Funds Outperform? Evidence from European Non-Listed Real Estate Funds.	Fuerst,Franz; Mansley,Nick and Wang,Zilong
03/21	Diversification Potential in Real Estate Portfolios.	Candelon,Bertrand; Fuerst,Franz and Hasse,Jean-Baptiste
04/21	Reference Dependence in the UK Housing Market 2023 Update Read Here	Bao,Helen X.H and Saunders, Rufus
05/21	Reference Dependence, Loss Aversion and Residential Property Development Decisions	Bao,Helen X.H; Meng,Chunming and Wu,Jing
06/21	Light at the end of the tunnel: The impacts of expected major transport improvements on residential property prices	Bao,Helen X.H; Larsson,Johan.P and Wong,Vivien
07/21	Off-farm employment and agricultural land use efficiency in China	Zhao,Qianyu; Bao,Helen X.H and Zhang,Zhanlu
08/21	Connected Markets through Global Real Estate Investments	Zhu,Bing and Lizieri,Colin
09/21	The Total Return and Risk to Residential Real Estate	Eichholtz,Piet; Korevaar,Matthijs; Lindenthal,Thies and Tallec,Ronan
10/21	Are Estimates of Rapid Growth in Urban Land Values an Artifact of the Land Residual Model?	Clapp,John.M; Cohen,Jeffrey.P and Lindenthal, Thies
11/21	Machine Learning, Architectural Styles and Property Values	Lindenthal,Thies and Johnson,Erik.B
12/21	Long lease real estate – a revised role for real estate in pension fund portfolios	Mansley,Nick and Wang,Zilong
13/21	Can Rainmakers justify their pay? The Role of Invesment Banks in REIT M&AS	Zhang,Weiwei; Sun,Tiezhu; Han Lin Goh,Patrick; Wang,Zilong and Mansley,Nick
14/21	Getting the first job: Size and quality of ethnic enclaves and refugee labor market entry	Klaesson,Johan and Oner,Ozge
15/21	Ethnic enclaves and self-employment among Middle Eastern immigrants in Sweden: ethnic capital or enclave size?	Andersson,Martin; Larsson,Johan.P and Oner,Ozge
16/21	The Effect of Expected Losses on the Hong Kong Property Market	Li,Ling and Wan,Wayne.X
17/21	The Heightened ‘Security Zone’ Function of Gated Communities during the COVID-19 Pandemic and the Changing Housing Market Dynamic: Evidence from Beijing, China	Li,Ling; Wan,Wayne.X and He,Shenjing
18/21	Is there a need for reverse mortgages in Germany? Empirical evidence and policy implications	Bartsch,Florian; Buhlmann,Florian; Kirschenmann,Karolin and Schmidt,Carolin
19/21	Strong tenant protections and subsidies support Germany’s majority-renter housing market. Brookings Institution brief. In "Comparing Rental Housing Markets Across the Globe	Schmidt,Carolin

2020

Ref	Research Title	Authors
01/20	Real Estate Data to Analyse the Relationship between Property Prices, Sustainability Levels and Socio-economic Indicators. Data in Brief	Fuerst,Franz and Haddad,Michel.F.C
02/20	Is there an Economic Case for Energy-efficient Dwellings in England's Private Rental Market?	Fuerst,Franz and Haddad,Michel.F.C and Adan,Hassan
03/20	Raising the Bar (15)	Elhorst,Paul; Abreu,Maria; Amaral,Pedro; Bhattacharjee,Arnab; Bond-Smith,Steven; Chasco,Coro; Corrado,Luisa; Ditzen,Jan; Felsentein,Daniel; Furest,Franz; McCann,Philip; Monastiriotis,Vassilis; Quatraro,Francesco; Temursho,Umed and Yu,Jihai
04/20	Determinants of Energy Consumption and Exposure to Energy Price Risk: A UK Study.	Fuerst,Franz; Kavarnou,Dimitra; Singh,Ramandeep and Adan,Hassan
05/20	Housing Wealth and Residential Energy Consumption in the UK	Bao,Helen X.H and Li,Haotong
06/20	The Return of State Control and Its Impact on Land Market Efficiency	Li,Ling; Bao,Helen X.H and Robinson,Guy.M
07/20	The Impact of Urbanization on Farmland Productivity: Implications for China’s Requisition–Compensation Balance of Farmland Policy	Deng,Zhongqi; Zhao,Qianyu and Bao,Helen X.H
08/20	Building the COVID-19 Collaborative Emergency Network: a case study of COVID-19 outbreak in Hubei Province, China	Liu,Jie; Shi,Zhenwu and Bao,Helen X.H
09/20	Investor Overconfidence and Trading Activity in the Asia Pacific REIT Markets	Bao,Helen X.H and Li,Haotong
10/20	A Link Between East and West: How the Guangzhou–Shenzhen–Hong Kong Express Rail Link Affects Property Prices in Hong Kong	Bao,Helen X.H; Mok,Doris Ka Chuen
11/20	The Impact of Home Sharing on Residential Real Estate Markets	Bao,Helen X.H and Shah,Saul
12/20	Pricing Efficiency and Bounded Rationality: Evidence Based on the Responses Surrounding GICS Real Estate Category Creation	Bao,Helen X.H; Brady,Adam and Wang,Ziyou
13/20	Local Beta: Has Local Real Estate Market Risk Been Priced in REIT Returns?	Zhu,Bing and Lizieri,Colin
14/20	A Comparison of Non-Gaussian VaR Estimation and Portfolio Construction Techniques	Allen,David; Lizieri,Colin and Satchell,Stephen
15/20	Beauty in the Eye of the Home-Owner: Aesthetic Zoning and Residential Property Values	Lindenthal,Thies
16/20	Risk classification of Asian real estate funds and their performance	Mansley,Nick; Ching ManTse, Tiffany and Wang,Zilong
17/20	Disentangling the Brexit vote: The role of economic, social and cultural contexts in explaining the UK’s EU referendum vote.	Abreu,Maria and Oner,Ozge
18/20	Ethnic enclaves and segregation—self-employment and employment patterns among forced migrants	Klaesson,Johan and Oner,Ozge
19/20	Retail and Place Attractiveness: The Effects of Big-Box Entry on Property Values	Daunfeldt,Sven-Olov; Mihaescu,Oana; Oner,Ozge and Rudholm,Niklas
20/20	The return of state control and its impact on land market efficiency in urban China	Li,Ling;Bao,Helen X.H and Robinson,Guy.M
21/20	Does Default Risk Matter For Investors in REITS	Sha,Yezhou; Wang,Zilong; Bu,Ziwen and Mansley,Nick

2019

Ref	Research Title	Authors
01/19	Size effects and economies of scale in European real estate companies	Ambrose,Brent.W; Fuerst,Franz; Mansley,Nick; and Wang, Zilong
02/19	Is there a Scientific Consensus on the Economic Viability of Sustainable Buildings? (in German)	Fuerst,Franz and Dalton,Ben
03/19	Housing affordability: Is new local supply the key?	Fingleton,Bernard; Fuerst,Franz; and Szumilo,Nikodem
04/19	Tearing down the information barrier: the price impacts of energy efficiency ratings for buildings in the German rental market	Cajias,Marcelo; Fuerst,Franz; and Bienert,Sven
05/19	City Profile: Chongqing (1997 – 2017)	Bao,Helen X.H; Li, Ling; and Lizieri,Colin
06/19	‘Smarter Information, Smarter Consumers’? Insights into the Housing Market	Gong, Cynthia.M; Lizieri,Colin; and Bao,Helen X.H
07/19	In Defense of Portfolio Optimisation What If We Can Forecast?	Allen,David.J; Lizieri,Colin and Satchell,Stephen.E
08/19	An empirical approach to urban land monopoly: A case study of the city of Barranquilla, Colombia	Garza,Nestor; and Lizieri,Colin
09/19	What Motivates a Developer to Sell before Completion?	Li,Ling and Chau,K.W
10/19	How do developers price new housing in a highly oligopolistic city?	Wong,Siu.K; Li,ling; and Monkkonen,Paavo

2018

Ref	Research Title	Authors
01/18	Does voluntary disclosure create a green lemon problem? Energy-efficiency ratings and house prices	Fuerst,Franz and Warren-Myers,Georgia
02/18	How present bias forestalls energy efficiency upgrades: A study of household appliance purchases in India	Fuerst,Franz and Singh,Ramandeep
03/18	Raising the bar (8)	Elhorst,Paul; Abreu,Maria; Amaral,Pedro; Bhattacharjee,Arnab; Corrado,Luisa; Doran,Justin; Fingleton,Bernard; Fuerst,Franz; Garretsen,Harry; Igliori,Danilo; LeGallo,Julie; McCann,Philip; Monastiriotis,Vassilis; Quatraro,Francesco; and Yu,Jihai
04/18	Estimating the Real Implications of Sea Level Rise for Public and Private Property Ownership, Occupation and Management.	Warren-Myers,Georgia; Aschwanden,Gideon; Fuerst,Franz; and Krause,Andy
05/18	Does your personality shape your reaction to your neighbours’ behaviour? A spatial study of the diffusion of solar panels	Busic-Sontic,Ante; Fuerst,Franz
06/18	Cap rates and risk: a spatial analysis of commercial real estate	Unbehaun,Florian; Fuerst,Franz
07/18	Green label signals in an emerging real estate market. A case study of Sao Paulo, Brazil	Costa,Odilon; Furest,Franz; Robinson,Spenser.J; Mendes-Da-Silva,Wesley
08/18	Raising the bar (7)	Elhorst,Paul; Abreu,Maria; Amaral,Pedro; Bhattacharjee,Arnab; Corrado,Luisa; Doran,Justin; Fingleton,Bernard; Fuerst,Franz; Garretsen,Harry; Igliori,Danilo; LeGallo,Julie; McCann,Philip; Monastiriotis,Vassilis; Quatraro,Francesco; and Yu,Jihai
09/18	Are corporate office buildings priced differently?	Costa,Odilon; Furest,Franz; Mendes-Da-Silva,Wesley
10/18	Behavioral Analysis of Housing Satisfaction with Relocations: Field Evidence from China	Yan,Jinhai and Bao,Helen X.H
11/18	A Behavioral Interpretation of the NAV Discount Puzzle in Listed Real Estate Companies (Version Aug 2017) Read 2020 Update	Monson,Sally; Bao,Helen X.H; and Lizieri,Colin
12/18	Increased Tail Dependence in Global Public Real Estate Markets	Deng,Yang; Bao,Helen X.H; and Gong,Pu
13/18	Rural Land Rights Reform and Agro-Environmental Sustainability: Empirical Evidence from China	Xu,Yuting; Huang,Xianjin; Bao,Helen X.H; Xiang,Ju; Zhong,Taiyang; Zhigang,Chen; Zhou,Yan
14/18	Mega-event effects on the housing market: Evidence from the Beijing 2008 Olympic Games	Wang,M; and Bao,Helen X.H;
15/18	Can Institutional Investors Bias Real Estate Portfolio Appraisals? Evidence from the Market Downturn	Crosby,Neil; Devaney,Steven; Lizieri,Colin; and McAllister,Patrick
16/18	Well-being effects of self-employment: A spatial inquiry.	Abreu,Maria; Oner,Ozge; Brouwer,Aleid; and Van Leeuwen,Eveline

2017

Ref	Research Title	Authors
01/17	The commercial performance of global airports	Fuerst,Franz; and Gross,Sven
02/17	The role of personality traits in green decision-making	Busic-Sontic,Ante; Czap,Natalia.V; and Fuerst,Franz
03/17	Raising the bar (6)	Elhorst,Paul; Abreu,Maria; Amaral,Pedro; Bhattacharjee,Arnab; Corrado,Luisa; Doran,Justin; Fingleton,Bernard; Fuerst,Franz; Garretsen,Harry; Igliori,Danilo; LeGallo,Julie; McCann,Philip; Monastiriotis,Vassilis; Quatraro,Francesco; and Yu,Jihai
04/17	Income risk in energy efficient office buildings	Szumilo,Nikodem; and Furest,Franz
05/17	The Dynamics of House Prices in Israel and the Effect of the Investor’s Fear Gauge	Weiner,Dotan; and Fuerst,Franz
06/17	A green winner's curse? Investor behavior in the market for eco-certified office buildings	Furest,Franz; Gabrieli,Tommaso; and McAllister,Patrick
07/17	Raising the bar (5)	Elhorst,Paul; Abreu,Maria; Amaral,Pedro; Bhattacharjee,Arnab; Corrado,Luisa; Fingleton,Bernard; Fuerst,Franz; Garretsen,Harry; Igliori,Danilo; LeGallo,Julie; McCann,Philip; Monastiriotis,Vassilis; and Yu,Jihai
08/17	Loss Aversion and Housing Studies	Bao,Helen X.H; and Meng, Chunming.C
09/17	Reference-Dependent Analysis of Capital Structure and REIT Performance	Bao,Helen X.H; and Gong,Cynthia
10/17	Are We Humans or Are We Econs? - The Effect of Sunk Cost Fallacy in Real Estate Development Decisions	Bao,Helen X.H; and Meng, Chunming.C; and Wu,Jing
11/17	House Price Determinants: The Roles of Fundamentals and Sentiments	Bao,Helen X.H; and Li,Haotong.S
12/17	Land assembly in Amsterdam, 1832–2015	Lindenthal,Thies; Eichholtz,Piet; and Geltner,David
13/17	Retail city: the relationship between place attractiveness and accessibility to shops	Oner,Ozge;
14/17	Who works longer –and why? Regional and individual Characteristics in the timing of retirement.	Klaesson,Johan; Lopez,Esteban; and Oner,Ozge
15/17	Location of leisure: the New Economic Geography of leisure services	Oner,Ozge; and Klaesson,Johan
16/17	Innovation in the hospitality industry: Firm or location?	Backman,Mikaela; Klaesson,Johan; and Oner,Ozge

2016

Ref	Research Title	Authors
01/16	Green Signalling Effects in the Market for Energy-Efficient Residential Buildings, Applied Energy	Furest,Franz; Oikarienen,Elias; and Harjunen,Oskair
02/16	A Class of its Own? The Role of Sustainable Real Estate in a Conditional Value at Risk Multi-Asset Portfolio	Geiger,Peter; Cajias,Marcelo; and Fuerst,Franz
03/16	Green luxury goods? The economics of eco-labels in the Japanese housing market	Fuerst,Franz; and Shimizu,Chihiro
04/16	Energy performance ratings and house prices in Wales: An empirical study	Fuerst,Franz; McAllister,Pat; Nanda,Anupam; and Wyatt,Pete
05/16	Land use policy and spatiotemporal changes in the water area of an arid region	Xu,Fei; Bao,Helen X.H; Li,Huan; Kwan,Mei-Po; and Huang,Xianjin
06/16	Skyscrapers and the economy in Latin America	Garza,Nestor; and Lizieri,Colin
07/16	A spatial-temporal assessment of the Land Value Development Tax	Garza,Nestor; and Lizieri,Colin
08/16	Monocentric Cyberspace: The Primary Market for Internet Domain Names	Lindenthal,Thies
09/16	Retail productivity: The effects of market size and regional hierarchy	Oner,Ozge

Ref	Research Title	Authors
01/23	Between Carrots and Sticks, from Intentions to Actions: Behavioural Interventions for Housing Decisions Now Published - Read Here	Helen X. H. Bao
02/23	Political Uncertainty and Carbon Emission Trading: Evidence from China Now Published - Read Here	Helen X. H. Bao and Tony He Tang
03/23	Unpacking the Effects of Rural Homestead Development Rights Reform on Rural Revitalization in China Now Published - Read Here	Qianyu Zhao, Helen X. H. Bao, and Shurong Yao
04/23	Assessing the Ecological Impacts of Coastal Reclamation: An Integrated Index System Now Published - Read Here	Lefeng Qiu and Helen X. H. Bao
05/23	Equal Price for Equal Place? Demand-Driven Racial Discrimination in the Housing Market	Anthony Lepinteur, Giorgia Menta, and Sofie R. Waltl,
06/23	The effectiveness of behavioural interventions on residential location choices and commute behaviours: Experimental evidence from China	Helen X. H. Bao, Yangfanqi Liu and Jie Liu
07/23	Good Jobs, Good Tenants? Field Evidence of Racial and Gender Discrimination in the UK’s Housing Market	Andrew H. Huang and Helen X. H. Bao

Ref	Research Title	Authors
01/22	Growth and Predictability of Urban Housing Rents	Piet Eichholtz, Matthijs Korevaar, Thies Lindenthal
02/22	Urban Land Valuation with Bundled Good and Land Residual Assumptions Now Published - Read Here	John M.Clapp, Thies Lindenthal
03/22	Towards Accountability in Machine Learning Applications: A System-testing Approach	Wayne Xinwei Wan, Thies Lindenthal
04/22	Housing Wealth Distribution, Inequality, and Residential Satisfaction Now Published - Read Here	Helen Bao and Chunming Meng
05/22	Political Institutions and Corporate Risk-Taking: International Evidence Now Published - Read Here	Helen Bao and Rohan Cardoza
06/22	Is hiding my first name enough? Using behavioural interventions to mitigate racial and gender discrimination in the rental housing market Now Published - Read Here	Helen Bao
07/22	Social Capital and the Effectiveness of Land Use Policies: Evidence from Rural China Now Published - Read Here	Helen Bao, Yan Jiang, Ziyoi Wang and Lei Feng
08/22	Do Shared E-Bikes Reduce Urban Carbon Emissions Now Published - Read Here	Qiumeng Li, Franz Fuerst and Davide Luca

Ref	Research Title	Authors
01/20	The Total Return and Risk to Residential Real Estate	Piet Eichholtz, Matthijs Korevaar, Thies Lindenthal and Ronan Tallec
02/20	Local Beta: Have Location Risks Been Priced in REIT Returns? Now Published - Read Here.	Bing Zhu, Colin Lizieri
03/20	Machine Learning, Architectural Styles and Property Values Now Published - Read Here.	Thies Lindenthal, Eric B Johnson
04/20	Could Loss Aversion Retain on the Market? Evidence from the Hong Kong Property Market	Christina Li and Wayne Wan
05/20	Diversification Potential in Real Estate Portfolios	Bertrand Candelon, Franz Fuerst and Jean-Baptiste Hasse
06/20	Light at the end of the tunnel: The Impacts of expected major transport improvements on residential property prices	Helen Bao, Johan Larsson and Vivien Wong

Ref	Research Title	Authors
01/18	Behavioural Analysis of Housing Satisfaction with Relocations: Field Evidence from China Now Published - Read Here.	Jinhai Yan and Helen X H Bao
02/18	Increased Tail Dependence in Global Public Real Estate Markets Now Published- Read Here.	Yang Deng, Helen X H Bao and Pu Gong
03/18	Currency Risk Management for Investors in Asia Pacific Non-Listed Real Estate Funds	Nick Mansley and Zilong Wang
04/18	Housing affordability: Is new local supply the key?	Bernard Fingleton, Franz Fuerst and Nikodem Szumilo

Ref	Research Title	Authors
01/17	Land Assembly in Amsterdam, 1832-2015 Now Published- Read Here.	Thies Lindenthal, Piet Eichholtz and David Geltner
02/17	Income risk in energy efficient office buildings Now Published- Read Here.	Nikodem Szumilo and Franz Fuerst
03/17	The Dynamics of House Prices in Israel and the Effect of the Investor's Fear Gauge	Dotan Weiner and Franz Fuerst
04/17	A Behavioral Interpretation of the NAV Discount Puzzle in Listed Real Estate Companies Now Published - Read Here.	Sally Monson, Helen Bao and Colin Lizieri

CRERC - Publications

CRERC Publications

2024

2023

2022

2021

2020

2019

2018

2017

2016

Working Papers

CRERC - Working Papers

2024

2023

2022

2021

2020

2019

2018

2017

2016