The political economy of housing prices: Hedonic pricing with regression discontinuity
AbstractThis paper uses hedonic pricing to empirically estimate the value of publicly provided local goods and services in the constituencies of the ruling party relative to those of the opposition parties. To improve control for omitted variables that change smoothly over space, we use a regression discontinuity design to restrict the sample to houses that are near the electoral boundaries. Using resale market prices of public flats in Singapore, in some cases we find a moderate but highly statistically significant difference in housing prices across the electoral boundaries that separate the constituencies of the ruling party and the opposition parties.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Housing Economics.
Volume (Year): 19 (2010)
Issue (Month): 2 (June)
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Web page: http://www.elsevier.com/locate/inca/622881
Hedonic pricing Regression discontinuity Political economy Publicly provided local goods and services;
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