| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16992 |
| 来源ID | Working Paper 16992 |
| China's Rising Demand for \"Green Cities\": Evidence from Cross-City Real Estate Price Hedonics | |
| Siqi Zheng; Jing Cao; Matthew E. Kahn | |
| 发表日期 | 2011-04-28 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | With the decline of the traditional hukou system, migrants in China have a broad set of cities to choose from. Within an open system of cities, compensating differentials theory predicts that local real estate prices will reflect the marginal valuation of non-market local public goods. More polluted cities will feature lower real estate prices. But, local pollution may be caused by booming local industries. To address such endogeneity concerns, we estimate hedonic regressions using an instrumental variable strategy based on "imports" of pollution from nearby sources. By documenting the importance of spatial emissions patterns, our study highlights how real estate prices in one city are affected by Pigouvian externalities originating in another location. On average, a 10% decrease in imported neighbor pollution is associated with a 1.8% increase in local home prices. |
| 主题 | Environmental and Resource Economics ; Environment ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w16992 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574666 |
| 推荐引用方式 GB/T 7714 | Siqi Zheng,Jing Cao,Matthew E. Kahn. China's Rising Demand for \"Green Cities\": Evidence from Cross-City Real Estate Price Hedonics. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16992.pdf（229KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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