房屋市场的强制性能源效益披露

IF 5.6 1区经济学 Q1 ECONOMICS

American Economic Journal-Economic Policy Pub Date : 2022-11-01 DOI:10.1257/pol.20200539

Erica Myers, Steven L. Puller, Jeremy West

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引用次数: 9

摘要

强制性信息披露政策得到了广泛实施，尽管鲜有证据表明它们改善了市场结果。我们研究了要求房屋卖家向买家提供住宅能源效率认证审计的效果。使用附近类似的家庭作为比较组，我们发现这一要求增加了能源效率的价格溢价，并鼓励了节能投资。此外，我们还提供了一些证据，强调市场失灵——买卖双方的信息不完整——阻碍了住房交易中能源效率的广泛自愿披露。我们的研究结果支持披露政策可以改善对称信息不完全环境下的市场结果。(jel d83, k32, l98, q41, q48, r31)

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Mandatory Energy Efficiency Disclosure in Housing Markets

Mandatory disclosure policies are implemented broadly despite sparse evidence that they improve market outcomes. We study the effects of requiring home sellers to provide buyers with certified audits of residential energy efficiency. Using similar nearby homes as a comparison group, we find that this requirement increases price premiums for energy efficiency and encourages energy-saving investments. We additionally present evidence highlighting the market failure—incomplete information by both buyers and sellers—that prevents widespread voluntary disclosure of energy efficiency in housing transactions. Our findings support that disclosure policies can improve market outcomes in settings with symmetrically incomplete information. (JEL D83, K32, L98, Q41, Q48, R31)

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来源期刊

American Economic Journal-Economic Policy ECONOMICS-

CiteScore

8.20

自引率

1.90%

发文量

期刊介绍： The American Economic Review (AER) is a general-interest economics journal. The journal publishes 12 issues containing articles on a broad range of topics. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in economics. American Economic Journal: Economic Policy publishes papers covering a range of topics, the common theme being the role of economic policy in economic outcomes. Subject areas include public economics; urban and regional economics; public policy aspects of health, education, welfare and political institutions; law and economics; economic regulation; and environmental and natural resource economics.