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Local constant-quality housing market liquidity indices 当地恒定质量住房市场流动性指数
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-09 DOI: 10.1016/j.regsciurbeco.2024.103997
Dorinth W. van Dijk
{"title":"Local constant-quality housing market liquidity indices","authors":"Dorinth W. van Dijk","doi":"10.1016/j.regsciurbeco.2024.103997","DOIUrl":"https://doi.org/10.1016/j.regsciurbeco.2024.103997","url":null,"abstract":"<div><p>Market liquidity is an important aspect of housing market developments. The time on market (TOM) of sold properties is frequently used by researchers, practitioners, and policymakers as a market liquidity indicator. Compared to research on house price indices, the literature is very sparse on constructing housing market liquidity indices. This paper proposes a new method to construct constant-quality market liquidity indices based on TOM. The first contribution is that the method improves end-of-sample reliability resulting in fewer revisions. This increases the practical usefulness for business and policy purposes. The second contribution is that the applied structural time series method is designed to work in thin markets. This allows index construction at the local level.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"106 ","pages":"Article 103997"},"PeriodicalIF":3.1,"publicationDate":"2024-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140113316","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
Cumulative impacts in environmental justice: Insights from economics and policy 环境正义的累积影响：经济学和政策的启示
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-07 DOI: 10.1016/j.regsciurbeco.2024.103993
Laura A. Bakkensen , Lala Ma , Lucija Muehlenbachs , Lina Benitez
{"title":"Cumulative impacts in environmental justice: Insights from economics and policy","authors":"Laura A. Bakkensen ,&nbsp;Lala Ma ,&nbsp;Lucija Muehlenbachs ,&nbsp;Lina Benitez","doi":"10.1016/j.regsciurbeco.2024.103993","DOIUrl":"10.1016/j.regsciurbeco.2024.103993","url":null,"abstract":"<div><p>Disparities in health and socioeconomic well-being are a result of the cumulative impacts from multiple coinciding environmental, health, and social stressors. Addressing cumulative impacts is seen as a crucial step toward environmental justice (EJ). Using the case of the United States, we compare different methods to operationalize the concept for real-world application. We empirically demonstrate the extent to which non-White and low-income neighborhoods are subject to a wide array of burdens and how these burdens are reflected in national EJ indices and housing prices. We find that non-White and low-income neighborhoods are correlated with measures of multiple environmental burdens and social stressors but correlate to a lesser extent with natural disaster risk. Two existing EJ indices are only moderately correlated and more correlated with low-income status than with percent non-White. Models that employ the housing market for benefits estimation may fail to capture preferences to avoid multiple stressors due to issues including data availability and market frictions, such as discrimination. Finally, we highlight the challenges in cumulative impacts analysis for research and policy-making.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"107 ","pages":"Article 103993"},"PeriodicalIF":3.1,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140124802","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
Optimization of regulation and fiscal policies for urban residential land use and traffic network management 优化城市住宅用地和交通网络管理的法规和财政政策
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-01 DOI: 10.1016/j.regsciurbeco.2024.103987
Jiang Qian Ying
{"title":"Optimization of regulation and fiscal policies for urban residential land use and traffic network management","authors":"Jiang Qian Ying","doi":"10.1016/j.regsciurbeco.2024.103987","DOIUrl":"10.1016/j.regsciurbeco.2024.103987","url":null,"abstract":"<div><p>Residential land use density regulation is an important policy instrument for reducing the local external diseconomies caused by concentration of population and buildings in urban areas. But density regulation also affects the distribution of population across the whole urban space, which determines the travel demands hence traffic flows over the transportation network in the city. In this paper, we formulate a model integrating the residential location choice equilibrium, traffic network equilibrium and the housing market equilibrium, subject to floor area ratio (FAR) regulation, a representative practical strategy for density regulation. The restriction of FAR regulation on housing supply is formulated as a development coordination cost function dependent on the level of FAR that is actually realized under the designated upper FAR limit. Complementary location-specific tax/subsidy policies, and road pricing schemes, are also addressed in a unified manner.</p><p>The mathematical structure of the model is explored, and efficient algorithms are developed for solving the equilibrium equations, and for the optimization of FAR regulations and the pecuniary strategies.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"105 ","pages":"Article 103987"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139649281","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
Educational and gender heterogeneity of the rural-urban earnings premium: New evidence from Norway 城乡收入溢价的教育和性别异质性：挪威的新证据
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-01 DOI: 10.1016/j.regsciurbeco.2024.103989
George C. Galster , Liv Osland
{"title":"Educational and gender heterogeneity of the rural-urban earnings premium: New evidence from Norway","authors":"George C. Galster ,&nbsp;Liv Osland","doi":"10.1016/j.regsciurbeco.2024.103989","DOIUrl":"https://doi.org/10.1016/j.regsciurbeco.2024.103989","url":null,"abstract":"<div><p>We explore urban earnings premiums for young, native, rural-to-urban movers in Norway. Using an augmented difference-in-differences estimator (DiD-TR) on microdata we challenge previous claims about urban earnings premium's size and sources. Conventional econometric estimators understate the static premium and overstate dynamic premiums. We find that migrants exhibit lower mean but faster pre-move earnings growth than non-migrants. Post-move, the static earnings premium dominates. The observed trajectory is related to frequent pre-move changes of industrial sector, presumably to obtain better job-worker matches. Post-move, these changes occur less frequently. Highly educated females exhibit largest static premiums (34%), less-educated females least (24%), males an intermediate amount. Our findings suggest that cities primarily generate earnings premiums through agglomeration-based efficiencies and superior job-worker matches varying heterogeneously by education and gender.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"105 ","pages":"Article 103989"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0166046224000139/pdfft?md5=fb92a05c679981718cf4f2064d6e2ada&pid=1-s2.0-S0166046224000139-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140041882","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
The economic impact of UNESCO World Heritage: Evidence from Italy 联合国教科文组织世界遗产的经济影响：来自意大利的证据
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-01 DOI: 10.1016/j.regsciurbeco.2024.103996
Enrico Bertacchini , Federico Revelli , Roberto Zotti
{"title":"The economic impact of UNESCO World Heritage: Evidence from Italy","authors":"Enrico Bertacchini ,&nbsp;Federico Revelli ,&nbsp;Roberto Zotti","doi":"10.1016/j.regsciurbeco.2024.103996","DOIUrl":"https://doi.org/10.1016/j.regsciurbeco.2024.103996","url":null,"abstract":"<div><p>This paper investigates the impact of the UNESCO World Heritage List (WHL) inscription on income and property values in Italian municipalities with heritage sites inscribed during the past two decades. To address the selection bias and identify the causal impact of inscription, we focus on municipalities having sites included in the national ‘tentative list’ (i.e., a list of candidates for subsequent nomination) and exploit the plausibly exogenous timing of inscription conditional upon being on the list. The evidence from a heterogeneity-robust event study analysis suggests that WHL listing has a significant impact on income and property prices in urban areas. Possible underlying mechanisms are discussed.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"105 ","pages":"Article 103996"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0166046224000206/pdfft?md5=42114533b6c35dd510394b8e1fcaba0a&pid=1-s2.0-S0166046224000206-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140030733","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
The role of neighborhood characteristics in explaining political party residential segregation 邻里特征在解释政党居住隔离中的作用
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-03-01 DOI: 10.1016/j.regsciurbeco.2024.103992
Keith Ihlanfeldt , Cynthia Fan Yang
{"title":"The role of neighborhood characteristics in explaining political party residential segregation","authors":"Keith Ihlanfeldt ,&nbsp;Cynthia Fan Yang","doi":"10.1016/j.regsciurbeco.2024.103992","DOIUrl":"10.1016/j.regsciurbeco.2024.103992","url":null,"abstract":"<div><p>High levels of neighborhood political residential segregation have recently been documented for the U.S. This has raised concerns, based on the argument that more politically homogeneous neighborhoods promote extremism and ideological intensity, resulting in this same extremism displayed by elected politicians. Using tens of thousands of single-family home sales from South Florida, our purpose is to examine the extent to which neighborhood observable descriptors can explain party segregation. Our results reveal significant differences between Democrat and Republican home buyers in the types of neighborhoods they choose. In comparison to Democrats, Republicans more frequently chose neighborhoods where a larger percentage of workers have short commutes, homes are on average larger in size, there are fewer restaurants and shops, population density is lower, and Hispanics are a smaller percentage of residents. These differences are found to be important in explaining neighborhood party segregation.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"105 ","pages":"Article 103992"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139927756","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
Measuring aggregate land values using individual city land value gradients 利用单个城市的地价梯度衡量总体地价
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-02-29 DOI: 10.1016/j.regsciurbeco.2024.103995
Nathaniel Harris
{"title":"Measuring aggregate land values using individual city land value gradients","authors":"Nathaniel Harris","doi":"10.1016/j.regsciurbeco.2024.103995","DOIUrl":"10.1016/j.regsciurbeco.2024.103995","url":null,"abstract":"<div><p>Aggregate land value is useful for a variety of research purposes including measuring the social surplus generated by cities and evaluating urban development policies. Nevertheless, only one previous study, Albouy et al., (2018), has attempted to measure cross-sectionally comparable aggregate land values for U.S. cities. That study relied on vacant or near-vacant land sales and used a single pooled aggregate estimate of the land value function. This research uses land values imputed by Larson et al., (2021) to estimate land value gradients for individual cities. Furthermore, the city boundary is measured using estimates of population density functions. Aggregate land value estimates from Albouy et al., (2018) and the individual city gradient approach used here are tested against the prediction of the Rosen, (1974)-Roback, (1982) model, that land value should rise with variables reflecting natural amenity. The individual city gradient approach produces estimates of intercity variation in aggregate land value that agree well with those in Albouy et al., (2018) and are consistent with theoretical expectations.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"106 ","pages":"Article 103995"},"PeriodicalIF":3.1,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140055575","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
Energy-efficient investments in housing 住房节能投资
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-02-24 DOI: 10.1016/j.regsciurbeco.2024.103994
Kelly C. Bishop, Ozgen Kiribrahim-Sarikaya
{"title":"Energy-efficient investments in housing","authors":"Kelly C. Bishop,&nbsp;Ozgen Kiribrahim-Sarikaya","doi":"10.1016/j.regsciurbeco.2024.103994","DOIUrl":"10.1016/j.regsciurbeco.2024.103994","url":null,"abstract":"<div><p>In recent years, many papers in environmental economics have considered the household’s decision to invest in energy-efficient technologies for their home. The vast majority of these studies have concluded that investment levels in these technologies are sub-optimal for a variety of reasons. In this paper, we synthesize the suggested drivers of these investment wedges and propose a dynamic modeling framework of a housing choice and an energy-efficient-investment choice that includes the proposed channels. We discuss the estimation challenges associated with this model and conclude with suggestions for future research.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"107 ","pages":"Article 103994"},"PeriodicalIF":3.1,"publicationDate":"2024-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140009160","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
Inter-municipal cooperation cloud and tax administrative costs 市际合作云和税收管理成本
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-02-20 DOI: 10.1016/j.regsciurbeco.2024.103991
Naruki Notsu
{"title":"Inter-municipal cooperation cloud and tax administrative costs","authors":"Naruki Notsu","doi":"10.1016/j.regsciurbeco.2024.103991","DOIUrl":"10.1016/j.regsciurbeco.2024.103991","url":null,"abstract":"<div><p>The influence of inter-municipal cooperation (IMC) on municipal finances remains underexplored. This study focuses on implementing the inter-municipal cooperation cloud (IMC cloud), a pioneering digital framework that facilitates cooperation among municipalities in Japan. The findings indicate that introducing the IMC cloud results in a decrease of approximately 5% in tax administrative costs. A further examination reveals that the IMC cloud offers returns to scale via cost sharing and promotes operational improvements, thereby driving savings in tax administration costs. These findings suggest the possibility that cost savings through operational improvements are an overlooked aspect in the existing studies on municipal collaboration context.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"105 ","pages":"Article 103991"},"PeriodicalIF":3.1,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139927770","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
Working from home: Too much of a good thing? 在家工作：好事多磨？
IF 3.1 2区 经济学
Regional Science and Urban Economics Pub Date : 2024-02-19 DOI: 10.1016/j.regsciurbeco.2024.103990
Kristian Behrens , Sergei Kichko , Jacques-Francois Thisse
{"title":"Working from home: Too much of a good thing?","authors":"Kristian Behrens ,&nbsp;Sergei Kichko ,&nbsp;Jacques-Francois Thisse","doi":"10.1016/j.regsciurbeco.2024.103990","DOIUrl":"10.1016/j.regsciurbeco.2024.103990","url":null,"abstract":"<div><p>We develop a general equilibrium model with skilled workers who can and unskilled workers who cannot work from home (WFH). Firms choose the amount of time they require workers in the office, whereas workers choose to either work on-site or hybrid, splitting working time between office and home. The endogenous work arrangements determine productivity, wages, and demand for residential and commercial real estate. We find that firms ‘outsource’ workers to their homes to save on real estate costs, and in doing so push beyond the WFH share that maximizes skilled workers’ productivity. This effect is more pronounced if land-use regulations are strict, thus showing another channel through which the latter may reduce productivity. More efficient information and telecommunication technologies allow firms to shift office expenditures toward skilled workers who invest more in home working space. In a nutshell, WFH may well be the ‘new margin of offshoring’ for firms.</p></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"105 ","pages":"Article 103990"},"PeriodicalIF":3.1,"publicationDate":"2024-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0166046224000140/pdfft?md5=6c7df908b5bbdf9a62bbfd89b8008190&pid=1-s2.0-S0166046224000140-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139927769","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
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