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Redlining refers to discriminatory lending practices based on the demographic composition of neighborhoods. The term is often attributed to boundaries drawn on maps by the Home Owners’ Loan Corporation (HOLC) in the 1930s to represent the perceived credit risk of neighborhoods. Combined with other discriminatory actions, redlining restricted access to mortgage financing for racial minorities, and...
This article explores the determinants of floor area ratio (FAR) limit, a major form of construction density regulation, in China. I develop a spatial equilibrium framework to study local governments’ optimal FAR design and investigate over 400,000 residential land transactions between 2007 and 2019 to perform the empirical analysis. Exploiting the exogenous variations generated by administrative...
In this article, we propose a novel estimator that builds on recent advances in heterogenous estimators to introduce the concepts of cross‐sectional heterogeneity and cross‐sectional dependency in the machine learning (ML) literature. The performance of the proposed method is evaluated in forecasting house prices at the county level for the 56 most populated Metropolitan Statistical Areas in the U...