U.S. housing prices and the Fukushima nuclear accident: To update, or not to update, that is the question
AbstractDid the nuclear catastrophe at Fukushima in March 2011 cause individuals to reappraise the risks they attach to nuclear power plants? We investigate the change in housing prices in the U.S. after the Fukushima event to test the hypothesis that house prices in the proximity of power plants fell due to an updated nuclear risk perception. Using a difference-in-differences approach we do not find evidence in support of the hypothesis that individuals reappraise the risks associated with nuclear power plants. House prices close to nuclear reactor sites did not fall relative to house prices at other locations in the U.S.
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Bibliographic InfoPaper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number 04-2013.
Date of creation: Jun 2013
Date of revision:
Fukushima; nuclear accident; hedonic prices; housing; updating;
Find related papers by JEL classification:
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-09-25 (All new papers)
- NEP-ENE-2013-09-25 (Energy Economics)
- NEP-LAM-2013-09-25 (Central & South America)
- NEP-LTV-2013-09-25 (Unemployment, Inequality & Poverty)
- NEP-NEU-2013-09-25 (Neuroeconomics)
- NEP-RES-2013-09-25 (Resource Economics)
- NEP-URE-2013-09-25 (Urban & Real Estate Economics)
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