Real estate is a capstone connection between various economic agents and markets. It is the main store of household wealth, serves as collateral for mortgage loans in the banking system, aids the transmission of monetary policy, and can propagate financial crises when overvalued. Yet comparable house-price data across the European Union (EU) and the euro area is unavailable, which hinders the design and evaluation of common monetary and economic policy that operates across heterogeneous housing markets. We derive monthly subnational European Real Estate Indicators (EREI) from online residential property advertisements in 16 European countries. The release covers April 2024 to June 2026 and contains 48,168 region-month-segment observations for 1,154 NUTS 3 regions, aggregating more than 43 million listing observations across the monthly sale and rental cross-sections. Each region-month segment reports the number of advertisements and summary statistics for asking prices per square meter and listing durations. The release also includes sale-segment indices for Europe, the euro area, and individual countries. Thirteen covered countries are EU members, which represented 85% of EU-27 gross domestic product in 2024. EREI data support research on a wide range of socio-economic phenomena associated with real estate dynamics, such as the evaluation of monetary policy or macroprudential policy effects on financial stability.

We investigate the relationship between county-level social capital in the U.S. and asymmetric earnings timeliness (accounting conservatism). We measure social capital by the strength of civic norms and the density of social networks in a community. We find that firms headquartered in regions with higher social capital have earnings that reflect bad news more quickly than good news. Two potential mechanisms driving this connection are evident in our findings. First, the positive link between social capital and asymmetric earnings timeliness is more pronounced in firms with weaker external oversight, suggesting that social capital compensates for weaknesses in these mechanisms by discouraging managers from delaying the recognition of bad news. Second, we illustrate that firms in high social capital regions are more likely to recruit senior executives with higher asymmetric earnings timeliness coefficients. This result implies a preference for managers who adopt more conservative accounting practices. We find similar results using an international sample of firms from 21 countries. Our findings offer new insights into how local social norms influence corporate financial reporting.

We provide evidence for a psychological component of inflation concerns. Higher inflation concerns relate in a positive and significant way to respondents’ reported levels of concerns about their financial situation. Results hold when controlling for income and financial constraints.

We study the effects of Tax Authority (IRS) attention on a firm’s financial reporting. We explore whether firms institute a higher degree of accounting conservatism in response to IRS monitoring. Using data on IRS acquisition of public firms’ 10-K financial disclosures to proxy for IRS attention, we find that when firms are under IRS attention, they tend to initiate higher levels of unconditional and, to some extent, conditional accounting conservatism. We alleviate some of the endogeneity concerns by using pre- and post-IRS attention environments between the treated group (firms with IRS attention) and a propensity score that matches the control group of firms (no IRS attention). These results withstand several robustness tests and subsample analyses.