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Stuck in traffic: Measuring congestion externalities with negative supply shocks 堵在路上测量负供给冲击下的拥堵外部性
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-05-16 DOI: 10.1016/j.regsciurbeco.2024.104013
Roberto Mosquera
{"title":"Stuck in traffic: Measuring congestion externalities with negative supply shocks","authors":"Roberto Mosquera","doi":"10.1016/j.regsciurbeco.2024.104013","DOIUrl":"https://doi.org/10.1016/j.regsciurbeco.2024.104013","url":null,"abstract":"<div><p>Congestion is one of the most challenging issues of urban agglomeration. Congestion costs are higher than socially optimal levels, and more information is needed about the key parameters required to design optimal policies. This paper exploits an exogenous reduction in for-hire vehicle supply in New York City to estimate their effect on travel speed and document substitution patterns to other transportation modes. A 9.1 percent decrease in taxis is associated with increased travel speed by 0.45 min per mile, a 7.2 percent increase. Consumer surplus gains from increased speed fade as waiting times increase and people switch to other transportation modes.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"108 ","pages":"Article 104013"},"PeriodicalIF":3.1,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141072914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
A study on the benefit incidence of a place-based education fee reduction program: Evidence from a local housing market in China 基于地方的教育收费减免计划的收益率研究：来自中国地方住房市场的证据
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-05-01 DOI: 10.1016/j.regsciurbeco.2024.104010
Yugang Tang , Meng-Wei Chen , Hehe Zhang
{"title":"A study on the benefit incidence of a place-based education fee reduction program: Evidence from a local housing market in China","authors":"Yugang Tang ,&nbsp;Meng-Wei Chen ,&nbsp;Hehe Zhang","doi":"10.1016/j.regsciurbeco.2024.104010","DOIUrl":"10.1016/j.regsciurbeco.2024.104010","url":null,"abstract":"<div><p>This paper studies an Education Fee Reduction and Exemption Program for preschool childcare in Jinan, China, to explore the benefit incidence among different stakeholders by observing how housing prices and rents change in response to this program and by employing a method of difference-in-differences combined with boundary discontinuity. The empirical findings indicate that the housing prices in the experimental area rose by 5–7 percent while the rents rose by 10–13 percent due to the capitalization effects of this equalization program. Falsification tests are conducted using artificial boundaries and fake policy implementation dates. A back-of-the-envelope welfare analysis demonstrates that a considerable portion of the program's benefits is offset by house price increases for new home buyers and rent increases for tenants, with significant distributional implications for different stakeholders.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"106 ","pages":"Article 104010"},"PeriodicalIF":3.1,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140775400","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Introduction to the special issue on urban economics and the environment 城市经济与环境特刊简介
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-04-29 DOI: 10.1016/j.regsciurbeco.2024.104012
Matthew Freedman, Shanjun Li
{"title":"Introduction to the special issue on urban economics and the environment","authors":"Matthew Freedman,&nbsp;Shanjun Li","doi":"10.1016/j.regsciurbeco.2024.104012","DOIUrl":"10.1016/j.regsciurbeco.2024.104012","url":null,"abstract":"","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"107 ","pages":"Article 104012"},"PeriodicalIF":3.1,"publicationDate":"2024-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141060421","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Estimating spatial autoregressions under heteroskedasticity without searching for instruments 异方差条件下的空间自回归估计，无需寻找工具
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-04-25 DOI: 10.1016/j.regsciurbeco.2024.104011
Yong Bao
{"title":"Estimating spatial autoregressions under heteroskedasticity without searching for instruments","authors":"Yong Bao","doi":"10.1016/j.regsciurbeco.2024.104011","DOIUrl":"https://doi.org/10.1016/j.regsciurbeco.2024.104011","url":null,"abstract":"<div><p>This paper proposes estimating higher-order spatial autoregressions with spatial autoregressive errors and heteroskedastic error innovations without searching for instruments by explicitly exploiting the endogeneity of spatial lags in the outcome and error equations. The resulting estimator is shown to be consistent and asymptotically normal. Monte Carlo experiments demonstrate that it possesses better finite-sample properties than existing estimators. An empirical study of venture capital funding for biotechnology firms illustrates that spatial correlation stretches as far as 20 miles and that the number of venture capital firms in close proximity has stronger impact on the level of funding than as reported in an existing study.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"106 ","pages":"Article 104011"},"PeriodicalIF":3.1,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140649660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Varying coefficient panel data models and methods under correlated error components: Application to disparities in mental health services in England 相关误差成分下的可变系数面板数据模型和方法：英格兰心理健康服务差异的应用
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-04-12 DOI: 10.1016/j.regsciurbeco.2024.104009
Pipat Wongsa-art , Namhyun Kim , Yingcun Xia , Francesco Moscone
{"title":"Varying coefficient panel data models and methods under correlated error components: Application to disparities in mental health services in England","authors":"Pipat Wongsa-art ,&nbsp;Namhyun Kim ,&nbsp;Yingcun Xia ,&nbsp;Francesco Moscone","doi":"10.1016/j.regsciurbeco.2024.104009","DOIUrl":"https://doi.org/10.1016/j.regsciurbeco.2024.104009","url":null,"abstract":"<div><p>The contribution of this paper is twofold. Firstly, it introduces novel regression models that combine two important areas of the methodological development in panel data analysis, namely a varying coefficient specification and spatial error dependence. The former allows relatively flexible nonlinear interactions; the latter enables spatial correlations of the disturbance and thus differ significantly from the other random effect models in the literature. To estimate the model, a new estimation procedure is established that can be viewed as a generalization of the quasi-maximum likelihood method for a spatial panel data model to the well-known conditional local likelihood procedure. Novel inference methods, particularly variable selection and hypothesis testing of the parameter constancy, are introduced and are shown to be effective under the complex spatial error dependence. Equally importantly, this paper makes a substantial contribution to the understanding of financing and expenditure for health and social care. In particular, we empirically analyze and explain the effects of political ideologies on the local fiscal policy in England, especially the expenditure on mental health services.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"106 ","pages":"Article 104009"},"PeriodicalIF":3.1,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140637873","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Informal land markets and ethnic kinship in West African cities 西非城市的非正规土地市场和种族亲属关系
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-04-06 DOI: 10.1016/j.regsciurbeco.2024.104008
Lucie Letrouit , Harris Selod
{"title":"Informal land markets and ethnic kinship in West African cities","authors":"Lucie Letrouit ,&nbsp;Harris Selod","doi":"10.1016/j.regsciurbeco.2024.104008","DOIUrl":"https://doi.org/10.1016/j.regsciurbeco.2024.104008","url":null,"abstract":"<div><p>We present an urban land use model with land tenure insecurity and information asymmetry regarding risks of contested land ownership, a very common issue in West African cities. A market failure emerges assellers do not internalize the impact of their market participation decision on the average quality of traded plots, which in turn affects other sellers and buyers’ decisions. The equilibrium is suboptimal and has too many transactions of insecure plots and too few transactions of secure plots. This market failure can be addressed when agents trade along trusted kinship lines that discourage undisclosed sales of insecure plots. Such kinship matching is an important feature of West African societies, including on the market for informal land, as illustrated by a unique survey administered in Bamako, Mali. In the model, the extent to which the market failure is addressed increases with the intensity of kinship ties. When sellers also have the possibility of registering their property right in a cadastre, this not only further attenuates information asymmetry but also helps reduce risk. We find complementarity between kinship matching and registration: As transactions along trusted kinship lines tend to involve plots that are more secure on average, kinship matching makes registration better targeted at insecure plots traded outside kinship ties.In this context, a partial registration fee subsidy can bring the economy to the social optimum.<span><sup>1</sup></span></p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"106 ","pages":"Article 104008"},"PeriodicalIF":3.1,"publicationDate":"2024-04-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140551642","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Airbnb and rental markets: Evidence from Berlin Airbnb 和租赁市场：柏林的证据
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-23 DOI: 10.1016/j.regsciurbeco.2024.104007
Tomaso Duso , Claus Michelsen , Maximilian Schaefer , Kevin Ducbao Tran
{"title":"Airbnb and rental markets: Evidence from Berlin","authors":"Tomaso Duso ,&nbsp;Claus Michelsen ,&nbsp;Maximilian Schaefer ,&nbsp;Kevin Ducbao Tran","doi":"10.1016/j.regsciurbeco.2024.104007","DOIUrl":"10.1016/j.regsciurbeco.2024.104007","url":null,"abstract":"<div><p>We exploit the differential responses of Airbnb hosts to two distinct policy interventions in Berlin to shed light on the optimal design of policies targeting short-term rental platforms to mitigate rental market inflation. The first intervention, which affected commercial listings, significantly impacted long-term rental markets, unlike the second intervention, which mainly affected non-commercial listings. Leveraging these policy variations, we estimate the marginal impact of Airbnb on rental supply and rents. Each additional commercial Airbnb listing displaces 0.23 to 0.37 rental units and increases rent per square meter by 1.3 to 2.4 percent. This underscores the importance of targeting commercial listings when regulating short-term rental markets.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"106 ","pages":"Article 104007"},"PeriodicalIF":3.1,"publicationDate":"2024-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0166046224000310/pdfft?md5=058a0d6e98c4534a85c324b58e4181a8&pid=1-s2.0-S0166046224000310-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140277366","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
How is rooftop solar capitalized in home prices? 屋顶太阳能如何计入房价？
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-22 DOI: 10.1016/j.regsciurbeco.2024.104006
Kenneth T. Gillingham, Asa Watten
{"title":"How is rooftop solar capitalized in home prices?","authors":"Kenneth T. Gillingham,&nbsp;Asa Watten","doi":"10.1016/j.regsciurbeco.2024.104006","DOIUrl":"10.1016/j.regsciurbeco.2024.104006","url":null,"abstract":"<div><p>Residential solar installations have increased 10-fold over the past decade and are becoming more common in neighborhoods around the United States. This raises the question of how solar affects housing markets. Is the investment fully capitalized in home values? We review the literature on the solar home price premium and present a model to provide a framework for understanding the empirical challenge of quantifying capitalization. We estimate a hedonic model and find that the residual value of a homeowner-owned solar system at the time of a transaction is roughly fully capitalized into home values when we use a discount rate of 15%. Third-party owned systems exhibit a much lower capitalization. We find that solar homes are more likely to have made home improvements leading to substantial bias when home improvements are omitted. We conclude with opportunities for future research.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"107 ","pages":"Article 104006"},"PeriodicalIF":3.1,"publicationDate":"2024-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140283477","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Migration and the environment: A look across perspectives 移民与环境：从不同角度看移民与环境
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-21 DOI: 10.1016/j.regsciurbeco.2024.104005
Paulina Oliva
{"title":"Migration and the environment: A look across perspectives","authors":"Paulina Oliva","doi":"10.1016/j.regsciurbeco.2024.104005","DOIUrl":"10.1016/j.regsciurbeco.2024.104005","url":null,"abstract":"<div><p>The decisions related to migration – where to live, when to move, and where to move – have a long history in economics. Different fields, within economics and outside economics, have developed different empirical methods to study migration and its consequences. However, these literatures rarely cite each other and there is little crossover between them. The purpose of this paper is twofold. First, to provide a simple theoretical framework for understanding general equilibrium effects in migration models that can help researchers think through the specific contexts in which these will be a problem for reduced form estimation. Second, to examine the different literatures in economics that have addressed the question of the effects of environmental amenities on migration with an eye to the differences across them and the way they can complement each other.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"107 ","pages":"Article 104005"},"PeriodicalIF":3.1,"publicationDate":"2024-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140268838","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Cities and water quality 城市与水质
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-13 DOI: 10.1016/j.regsciurbeco.2024.103998
Rhiannon L. Jerch, Daniel J. Phaneuf
{"title":"Cities and water quality","authors":"Rhiannon L. Jerch,&nbsp;Daniel J. Phaneuf","doi":"10.1016/j.regsciurbeco.2024.103998","DOIUrl":"10.1016/j.regsciurbeco.2024.103998","url":null,"abstract":"<div><p>We review economic research that focuses on topics connecting surface and drinking water quality and issues in urban economics. We organize our discussion around the major phases of the water resource and urban system relationship. First, we review work concerned with how urban water systems in the nineteenth and twentieth centuries served primarily as a means of production in urban centers. We then discuss the regulation of surface and drinking water in modern times, which arose as cities transitioned from being centers of production to centers of consumption. We also examine water as an amenity in the modern consumer city. We close by offering thoughts on future policy challenges and research needs and opportunities.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"107 ","pages":"Article 103998"},"PeriodicalIF":3.1,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140269881","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
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