Olivier Denagiscarde

Olivier Denagiscarde

PhD Candidate

Hello,

I am a PhD Candidate at University of Paris 1 Panthéon-Sorbonne (CES), working under the supervision of Clément Bosquet. I hold an MSc from Toulouse School of Economics.

My research focuses on urban, real estate, and financial economics, building upon several years of experience in the banking and real estate sectors. It combines spatial analysis and applied econometrics to produce causal evidence relevant to policy makers and real estate professionals.

In my PhD dissertation, I study major transformations that reshape cities through the lens of corporate real estate markets: the rise of remote work, building conversions to housing, and the energy transition.

I recently visited the Department of Geography at London School of Economics and the Spatial Economics Department at VU Amsterdam.

CV
Research

Working Paper

Remote Work and the Intracity Dynamics of Office Markets: Evidence from Paris

This paper examines the intracity effect of Working From Home (WFH) on office markets. I develop a municipality-level WFH exposure indicator in the Paris metropolitan area and leverage on the Covid-19 shock as a natural experiment to implement a difference-in-differences strategy. Using a unique dataset on commercial real estate, findings reveal a significant and growing rise in durable office vacancy due to remote work, even in high-quality buildings, with effects more pronounced in areas with larger firms and farther from the city center. This indicates an increasing mismatch between supply and demand, and a relative preference for central locations with better market access, which become more affordable through office downsizing. Furthermore, the paper sheds light on the negative externalities of sustained office underutilization. In areas most exposed to WFH, prices and transactions decline substantially, suggesting market anticipations of persistent changes. I also find evidence of spillover effects, with employment losses in nearby retail and restaurant sectors.

Work in Progress

The Economics of Office-to-Housing Conversions: Evidence from France, with Matthijs Korevaar

How Does Corporate Real Estate Respond to Long-Term Energy Efficiency Targets?, with Rachel Paya