Office Market Values During the Past Decade: How Distorted Have Appraisals Been?
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This paper develops evidence that, in a declining market, appraisal values may lag notably behind analytical measures of the discounted present value of commercial property cash flows. For the period 1982-92, alternative measures of the economic value of constant-quality office buildings are
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美国国家经济研究局创建时间：
1992-07-01
