On October 26th, Cláudia Custódio (Imperial College Business School) presents at ISEG the study "Opioid Crisis and Real Estate Prices".
Cláudia Custódio works mainly in the area of Corporate Finance. Learn more about the speaker in her personal page.
Abstract:
This paper documents a sizeable negative effect of the opioid crisis on the US housing market. We exploit variation in opioid prescription rates induced by the staggered passage of opioid- limiting legislation, and an instrumental variables approach. Passage of effective anti-opioid legislation results in an increase in county-level house prices and rents. This is driven by a decrease in mortgage delinquencies and property vacancy rates, and by an increase in the number of home improvement loans and migration inflows. These results are consistent with a model of residential sorting that predicts the observed migration patterns following opioid-induced shocks to household income.
The research seminars will take place from September 21 to December 14, on Wednesdays, from 1:00 PM to 2:00 PM, at the Novo Banco Amphitheater (Quelhas Building, 4th floor).
Faculty from ISEG and other national and international schools will participate in the sessions, when they will address topics related with Economics, Management, Finance, Social Sciences, and Mathematics.
Free admission.
