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The Aroma of Tacoma: Time-Varying Average Derivatives and the Effect of a Superfund Site on House Prices

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Author Info
McMillen, Daniel P
Thorsnes, Paul

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Abstract

A variant of the average derivative estimator is developed to construct an index measuring the effects of a copper smelter on house prices in Tacoma, Washington. The estimated average derivative index is smooth and has lower standard errors than regression coefficients estimated separately across discrete time periods. The dataset spans the time of initial rumors of Superfund site designation, the closing of the smelter, Superfund site designation, and the start of cleanup operations. The addition of the smelter to the Superfund site and the subsequent plant closing converted the price discount associated with smelter proximity to a premium.

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Publisher Info
Article provided by American Statistical Association in its journal Journal of Business and Economic Statistics.

Volume (Year): 21 (2003)
Issue (Month): 2 (April)
Pages: 237-46
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Handle: RePEc:bes:jnlbes:v:21:y:2003:i:2:p:237-46

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  1. Trudy Ann Cameron & Ian McConnaha, 2005. "Evidence of Environmental Migration: Housing values alone may not capture the full effects of local environmental disamenities," University of Oregon Economics Department Working Papers 2005-7, University of Oregon Economics Department, revised 01 Jan 2005. [Downloadable!]
  2. Trudy Ann Cameron & Graham D. Crawford, 2003. "Superfund Taint and Neighborhood Change: Ethnicity, Age Distributions, and Household Structure," University of Oregon Economics Department Working Papers 2003-38, University of Oregon Economics Department, revised 01 Dec 2003. [Downloadable!]
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This page was last updated on 2009-12-19.


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