Journal of Regional Science最新文献_第2页

Determinants of tourist employment in Brazilian microregions: A dynamic panel data approach 巴西微型地区游客就业的决定因素：动态面板数据方法

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-07-21 DOI: 10.1111/jors.12723

Luiz Carlos De Santana Ribeiro, Fernanda Rodrigues Dos Santos, Fábio Rodrigues De Moura, Rosa Lívia Gonçalves Montenegro, Elton Eduardo Freitas

引用次数: 0

The effects of fuel subsidies on regional income distribution through smuggling 燃料补贴通过走私对地区收入分配的影响

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-07-09 DOI: 10.1111/jors.12720

Hosein Joshaghani, Mohammad Morovati, Saeed Moshiri, Nima Rafizadeh

{"title":"The effects of fuel subsidies on regional income distribution through smuggling","authors":"Hosein Joshaghani, Mohammad Morovati, Saeed Moshiri, Nima Rafizadeh","doi":"10.1111/jors.12720","DOIUrl":"10.1111/jors.12720","url":null,"abstract":"Fuel subsidies, intended to improve consumer affordability, can result in economic distortions through altered relative prices and negative environmental impacts. Furthermore, these subsidies can lead to unintended consequences, such as fuel smuggling, especially to neighboring countries where significant price differences exist. While previous research has extensively explored the economic dimensions of fuel subsidies, the potential interplay between fuel smuggling and its impact on regional income distribution remains understudied. This study investigates the effects of fuel smuggling, stemming from Iran's long history of significant fuel subsidies, on income distribution across all 30 provinces of the country. We employ a model to specify the demand for fuel smuggling, using fuel prices in neighboring countries and the distance to the nearest border as sources of identification. Subsequently, we estimate the monthly smuggling profit across regions and assess this profit's influence on regional income distribution. Our empirical analysis draws on monthly data on gasoline and diesel sales from 160 fuel distribution districts in Iran, spanning the period from 2005 to 2014. Our findings demonstrate specific cases of smuggling activities that account for an average of 25% of total fuel consumption and generate substantial income in economically disadvantaged border provinces. We discuss the socioeconomic implications of fuel subsidies, with a focus on smuggling activities.","PeriodicalId":48059,"journal":{"name":"Journal of Regional Science","volume":"64 5","pages":"1596-1621"},"PeriodicalIF":3.2,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141573124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Place-based tax incentives and minority employment: Evidence from the New Market Tax Credit Program 基于地方的税收激励措施与少数民族就业：来自新市场税收抵免计划的证据

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-07-03 DOI: 10.1111/jors.12719

Anil Rupasingha, Alexander Marré, Josemari Feliciano

引用次数: 0

Assessing the environmental performance of green mortgage-backed securities 评估绿色抵押支持证券的环境绩效

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-07-02 DOI: 10.1111/jors.12718

Avis Devine, Meagan McCollum

{"title":"Assessing the environmental performance of green mortgage-backed securities","authors":"Avis Devine, Meagan McCollum","doi":"10.1111/jors.12718","DOIUrl":"10.1111/jors.12718","url":null,"abstract":"The green bond market is growing substantially, bringing with it a focus on economic and environmental performance. Yet while extensive work exists examining the former, there is little concrete evidence regarding the efficacy of green bond use-of-proceeds. Concurrently, the demand for ESG-compliant investments provides an opportunity to direct capital toward the rehabilitation of one of the most energy-intensive asset classes: real estate. One program in this space, the Fannie Mae Green Rewards green bond program, offers incentives to borrowers to increase multifamily building energy and water efficiency. Although all program participants must complete a set of preapproved projects targeting energy and water efficiency within 12 months of loan origination, there exists substantial variation in the realization of postorigination efficiency outcomes, and in the variation between projected and actual efficiency improvements. We find that fixed interest rates and supplemental financing loan structures are associated with postorigination energy efficiency improvements, as are newer, larger, and high-quality assets. However, the ex ante estimates of efficiency savings provided to prospective investors prove unrelated to the efficiency outcomes. These findings highlight opportunities to improve program transparency and calibration across the green bond universe.","PeriodicalId":48059,"journal":{"name":"Journal of Regional Science","volume":"64 4","pages":"1122-1153"},"PeriodicalIF":3.2,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jors.12718","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141546847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Damage versus risk perception: Why do house prices recover after hurricanes? 损失与风险意识：为什么飓风过后房价会回升？

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-06-18 DOI: 10.1111/jors.12716

Hoanh Le

引用次数: 0

Climate change and commercial property markets 气候变化与商业地产市场

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-06-18 DOI: 10.1111/jors.12717

David C. Ling, Spenser Robinson, Andrew R. Sanderford, Chongyu Wang

{"title":"Climate change and commercial property markets","authors":"David C. Ling, Spenser Robinson, Andrew R. Sanderford, Chongyu Wang","doi":"10.1111/jors.12717","DOIUrl":"https://doi.org/10.1111/jors.12717","url":null,"abstract":"The economic effect of climate hazard events varies by time and by location. This paper investigates how climate shocks to local property markets transmit to capital markets and provides evidence of the extent to which forward-looking climate risk is capitalized into the public valuations of those property markets. We first quantify the exposure of real estate portfolios to locations that recently experienced climate events (Event Exposure). Using an event study framework, we find that, in the post-event period, a one-standard-deviation increase in ex-ante Event Exposure is associated with a 0.2–1.4 percentage points decrease in quarterly stock returns. Cross-sectional analyses reveal that differences in return effects can be explained by variation in the extent to which the area focuses on climate change. Similarly, we find that forward-looking climate risk assessment negatively affects firm valuations only in markets with a focus on climate change. Consistent with these findings, we provide evidence that climate events (shocks) induce retail investors (noise traders) to decrease their stock holdings and that blockholders tend to take the opposite side in these transactions. We also show that conditioning on consumer sentiment helps to explain cross-sectional variation in the response of stock returns to climate events.","PeriodicalId":48059,"journal":{"name":"Journal of Regional Science","volume":"64 4","pages":"1066-1098"},"PeriodicalIF":3.2,"publicationDate":"2024-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jors.12717","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142165639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Quantifying the impacts of climate shocks in commercial real estate markets 量化气候冲击对商业房地产市场的影响

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-06-17 DOI: 10.1111/jors.12715

Rogier Holtermans, Dongxiao Niu, Siqi Zheng

{"title":"Quantifying the impacts of climate shocks in commercial real estate markets","authors":"Rogier Holtermans, Dongxiao Niu, Siqi Zheng","doi":"10.1111/jors.12715","DOIUrl":"https://doi.org/10.1111/jors.12715","url":null,"abstract":"This study investigates the capitalization of climate shocks in commercial real estate owned and operated by professional investors. We focus on Hurricanes Harvey and Sandy to quantify the price impacts of climate shocks on commercial buildings in Texas and New York. We find clear evidence of a decline in transaction prices in hurricane-damaged areas after the hurricanes made landfall, compared to unaffected areas. We also observe that the “new news” about climate risk is significantly priced in both states—assets in locations outside the FEMA floodplain (with a lower prior perception of flood risk) that were inundated by the hurricanes experienced larger price discounts, indicating that actual flooding updates investors' perception of flood risk. Moreover, we find that the hurricane discount is more pronounced among buyers with more transaction experience. The transaction price discount also increases with higher climate change beliefs in the local market and among investors. Our findings underline the role of information provision and environmental awareness in the materialization of climate risks' impact on commercial real estate values.","PeriodicalId":48059,"journal":{"name":"Journal of Regional Science","volume":"64 4","pages":"1099-1121"},"PeriodicalIF":3.2,"publicationDate":"2024-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jors.12715","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142165762","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Linearizing nonlinear gravity models: Biased BvOLS versus unbiased alternatives 非线性重力模型线性化：有偏见的 BvOLS 与无偏见的替代方案对比

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-05-30 DOI: 10.1111/jors.12714

Peter H. Egger, Michael Pfaffermayr

引用次数: 0

Migration and natives' inequality: Evidence from Italian local labor markets 移民与本地人的不平等：意大利当地劳动力市场的证据

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-05-13 DOI: 10.1111/jors.12707

Giuseppina Gianfreda, Giovanna Vallanti

{"title":"Migration and natives' inequality: Evidence from Italian local labor markets","authors":"Giuseppina Gianfreda, Giovanna Vallanti","doi":"10.1111/jors.12707","DOIUrl":"10.1111/jors.12707","url":null,"abstract":"Using individual data from the Italian Labor Force Survey, we investigate the impact of immigration on the Gini index and the percentile ratio (p90/p10) at the household level within Labor Market Areas (LMAs) in Italy from 2008 to 2018. To identify the effect of immigration we construct a composite index based on demographic and occupation-related characteristics that captures the degree of similarity between immigrants and natives across LMAs. This approach addresses the limitations of the standard cell segmentation method and allows us to estimate the impact of immigration on the entire distribution of natives' earnings. To address endogeneity concerns we use an instrument proposed by Card, which exploits the tendency of immigrants to migrate to areas with a pre-existing group of immigrants of the same ethnicity. Our findings show that immigration reduces income inequality among natives and the effect is larger in those LMAs where the degree of similarity between immigrants and natives is higher. We also find that immigration has a positive effect on natives' labor income in occupations that require language skills, while the effect is not significant in low/no skilled jobs that only require basic language skills, or highly skilled jobs where interaction between immigrants and natives is limited.","PeriodicalId":48059,"journal":{"name":"Journal of Regional Science","volume":"64 5","pages":"1511-1544"},"PeriodicalIF":3.2,"publicationDate":"2024-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140982961","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The geography of acquisitions and greenfield investments: Firm heterogeneity and regional institutional conditions 收购和绿地投资的地理分布：企业异质性与地区制度条件

IF 3.2 3区经济学

Journal of Regional Science Pub Date : 2024-05-13 DOI: 10.1111/jors.12705

Vito Amendolagine, Riccardo Crescenzi, Roberta Rabellotti

{"title":"The geography of acquisitions and greenfield investments: Firm heterogeneity and regional institutional conditions","authors":"Vito Amendolagine, Riccardo Crescenzi, Roberta Rabellotti","doi":"10.1111/jors.12705","DOIUrl":"10.1111/jors.12705","url":null,"abstract":"This paper investigates how institutional conditions at national and regional levels shape the decisions of Multinational Enterprises (MNEs) to invest abroad by means of either acquisitions or greenfield investments. The empirical analysis covers all foreign direct investment (FDI) projects in the European Union by the largest MNEs in the world to study alternative choices by the same firm and account for firm-level characteristics in investment decisions. The empirical results show that—other things being equal—regions with stronger investment eco-systems are more likely to attract acquisitions, while greenfield investments are more likely in regions with comparatively weaker systemic conditions. Howerver, the regional quality of institutions makes a fundamental difference to the nature of the investment projects attracted by regions: those with high quality of government can attract greenfield investments undertaken by the most productive MNEs. By improving their quality of government, local, and regional policy makers can attract higher quality greenfield investment projects to their constituencies, potentially breaking the vicious circle between low productivity areas and low productivity FDI.","PeriodicalId":48059,"journal":{"name":"Journal of Regional Science","volume":"64 4","pages":"1476-1505"},"PeriodicalIF":3.2,"publicationDate":"2024-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jors.12705","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140985017","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0