If lending contracts in an economy take the form of unsecured, non-state-contingent debt, a recession will often be associated with an increase in defaults and a reduction in the supply of credit, which amplifies the contraction. Within this context, I consider the case when the length of an unfolding recession is not immediately obvious; instead, it takes people time to learn about a persistent recession. I apply this scenario to models where the unsecured credit is represented by mortgage loans extended to households and by sovereign debt extended to an emerging economy. I find that in both cases, accounting for uncertainty and learning has a potential to improve the empirical performance of the models. Chapter 1 explores the U.S. housing market where house prices show a lot of inertia. I develop a general-equilibrium model with the market for housing and mortgages and introduce uncertainty regarding the persistence of business cycles. I show that uncertainty allows the model to better account for the sluggish dynamics of the housing market. In Chapter 2, I use key U.S. macroeconomic data to empirically estimate the structural model developed in Chapter 1. In order to compare the performance of the models with and without uncertainty, I use likelihood-based estimation methods. The model with uncertainty proves to be better capable of mimicking the long-lasting changes in house prices and other observable variables. Chapter 3 contains a theoretical model of a small open emerging economy that looks to refinance its sovereign debt during an unfolding recession of uncertain length. A long recession implies a higher chance of default in the future; a short recession means quick recovery and solvency. Uncertainty about the unfolding scenario adds price risk to long-term bonds and makes them costly to the borrower. Investors' preferences shift towards short-term bonds which mature before a lot of the uncertainty is resolved and before credit events are likely to happen. Such uncertainty helps explain the empirical fact that emerging economies tend to borrow short term during economic downturns.

Digitized by Kansas Correctional Industries

Thesis (M.Arch.A.S.)--Massachusetts Institute of Technology, Dept. of Architecture, 1980. / MICROFICHE COPY AVAILABLE IN ARCHIVES AND ROTCH. / Bibliography: p. 68. / by Fauzia Qureshi. / M.Arch.A.S.

Thesis (M.S.)--Massachusetts Institute of Technology, Dept. of Architecture, 1982. / MICROFICHE COPY AVAILABLE IN ARCHIVES AND ROTCH. / Bibliography: p. 82-83. / by Aminul Haq Khan. / M.S.

Zhu Wen Jian. / "Architecture Department, Chinese University of Hong Kong, Master of Architecture Programme 2002-2003, design report." / Includes bibliographical references (p. 93). / Chapter 1. --- Acknowledgements --- p.4 / Chapter 2. --- Preface --- p.5 / Chapter 3. --- Introduction --- p.6 / Chapter 4. --- Methodology --- p.7 / Chapter 5. --- Research --- p.8 / Chapter 5.1 --- Definition --- p.10 / Chapter 5.2 --- Box --- p.11 / Chapter 5.3 --- Combination --- p.15 / Chapter 5.4 --- Space --- p.18 / Chapter 5.5 --- Structure --- p.22 / Chapter 5.6 --- Matrix of Box Building --- p.24 / Chapter 6. --- Exploration --- p.28 / Chapter 6.1 --- Exploration 1 --- p.30 / Chapter 6.2 --- Exploration 2 --- p.34 / Chapter 6.3 --- Experiment --- p.36 / Chapter 7. --- Design --- p.44 / Chapter 7.1 --- Background --- p.46 / Chapter 7.2 --- Research Issues --- p.49 / Chapter 7.3 --- Box Design --- p.50 / Chapter 7.4 --- Combination --- p.52 / Chapter 7.5 --- Formation --- p.54 / Chapter 7.6 --- Structure --- p.60 / Chapter 7.7 --- Additional Wall --- p.64 / Chapter 7.8 --- Additional Space --- p.66 / Chapter 7.9 --- Interior Space --- p.68 / Chapter 7.10 --- Final Application --- p.72 / Chapter 8. --- Bibliography --- p.92 / Chapter 9. --- Appendix _ Precedents --- p.94

Thesis (M.A. (Dev. Studies)) --University of Limpopo, 2007 / This study analyzes challenges facing housing programmes, predominantly low cost housing projects. An assessment of the Nobody Mothapo low cost housing project in the Polokwane Municipality was done. The officials of the Department of Local Government and Housing, Polokwane Municipality, and beneficiaries of the Nobody Mothapo project participated in the study. The sample consisted of 43 participants with different characteristics. Group discussions were conducted during the data collection process. The findings of this study are that government is attempting to fulfill its obligations by providing shelter to the needy people although there are negative effects hampering the implementation process. The slow housing delivery process and poor quality houses are negatively affecting homeless people. Human settlements are still established without the necessary infrastructure such as electricity, roads and other social amenities. In this study the challenges facing this housing delivery process are discussed. Recommendations are made regarding the role of government. Consumer education is emphasized to enhance community participation in their development and adherence to project management principles in the planning and implementation of low cost housing projects. / Not listed

Thesis (MPA) --University of Limpopo, 2011 / The study aims at investigating the extent to which the Housing Delivery Programme of Government is addressing the backlog in housing provision. In the other hand if Government is not addressing the backlog in housing, it should be established as to what are the casual factors to the failure. The study randomly selected participants from Gravellotte to answer questions in connection with the two housing projects in Gravellotte, as well as officials of the Department of Local Government & Housing and the municipality of Ba-Phalaborwa. Primary data from participants and secondary data from books and journals were used. Qualitative method was more suitable for the study. It has been found that government is continuously providing houses, but the pace does not address the backlog in a quicker way as expected by the community and the quality of houses remain an issue that needs serious attention.

Externalities are defined as situations where an economic activity of an economic subject affects the production or consumption activities of other economic subjects (third parties), that do not participate in the activity. Externalities therefore cause changes in the welfare state of third party subjects and result in an economic inefficiency in an economy, indicating that the economy does not enjoy the maximum benefits from its given resources. Reconstruction project is a kind of large scale residential renewal programs that is organized and undertaken by private sector in Korea. In the process of profit maximization in the private sector, old housing estates are reconstructed with higher and larger residential buildings, as well as more dwelling units on the same sites. These changes emit externalities into the neighbourhood residential markets. The aim of the study is to demonstrate, statistically, the creation of externalities in the reconstruction of old housing estate. In doing so, the study investigates the differences of land prices in the neighbourhood residential markets due to the externalities generated by the projects and quantifies the differences, using the land price data from the Ministry of Construction and Transportation in Korea. Three statistical analysis methods were used in the study. Firstly, descriptive statistic detected the differences of land prices between the residential markets in each project case and indicated the existence of the externalities in some of the neighbourhood residential markets. Secondly, ANOVA and T-tests statistically concluded that reconstruction projects emit externalities in some neighbourhood residential markets. Lastly, the intervention analysis quantified the amounts of the externalities and verified the established hypotheses. The major finding of the study is that reconstruction projects emit externalities in the neighbourhood residential markets, and the net externalities are, on the whole, positive. It is concluded that the general welfare could be extended as the production level of reconstruction projects is increased.

Currently in Vietnam there is an increasing demand for building and housing. Many high-rise housing developments have been built recently and continue to be constructed. This dissertation will not address the question of whether the high-rises should be built or not, it will focus on the question: What is appropriate high-rise housing in Vietnam?

Thesis (B.Sc)--University of Hong Kong, 2004. / Includes bibliographical references (p. 92-97)