The determinants of commercial property prices and rents

Article Abstract:

A theoretical model of the commercial property market is developed. Prices and rents are assumed to adjust to equate the numbers of buyers and sellers and the numbers of landlords and tenants. A number of these theoretical relationships have been subjected to empirical testing. The results indicate that employment is a significant determinant on price and rent for industrial property, and that both indicators are sensitive to interest rates and residential property values.

Prices and rates, Industrial property, Industrial property rights

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Employment and retirement following a late-career job loss

Article Abstract:

A study was conducted to analyze the economic effects of late-career job loss on employment and retirement patterns, earnings and assets. The estimated hazard coefficients was utilized to determine the impact of displacement on employment rates at different ages. Results indicated large and lasting effects of late-career job loss on assets, wages, actual employment and employment expectations.

Unemployment, Retirement, Occupational mobility

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Industry differences in the persistence of firm-specific returns

Article Abstract:

The persistence of intra-industry rents for firms such as HP, Kellogg Co. and Boeing Co. is investigated. The returns of the companies are significantly higher than that of their immediate competitors. Results show that the persistence of the rents depends at least partly on the economic structure of a firm's particular industry, therefore making rents more persistent in some industries.

Return on investment, Rate of return

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