Methodology · econometrics
Hedonic house-price models are bounded by the characteristics an analyst can measure, yet much of a home's value is recorded only in the free-text description and photographs of its listing. This paper treats general-purpose AI models as a feature-engineering technology: a large language model converts each…
Vertical and Horizontal Inequity in Municipal Property Valuation: Evidence from 522,769 Sales Matched to the Assessment Roll
Municipal property taxes are levied on assessed values, so any systematic relationship between assessment ratios and market value redistributes the tax burden within a municipality. This paper matches 522,769 residential sales recorded in Quebec between 2021 and 2026 to the triennial assessment rolls of 625…
Decomposing the Value of Structure and Location across 142,121 MLS Listings with High-Dimensional Neighbourhood Fixed Effects
This paper estimates a national hedonic price function for the Canadian residential market on a cross-section of 142,121 active MLS listings from nine provinces. A semi-logarithmic specification relates the log list price to structural attributes, dwelling type and ownership form, and 1,155 absorbed neighbourhood…
This paper examines the relationship between short-term rental (STR) activity and residential rents in Quebec, Canada, using a 2026 cross-section of 3,456 Airbnb listings and 8,303 residential rental listings with precise coordinates. For each rental listing the number of Airbnb listings within 250 m, 500 m, 1 km and…