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Quality of Life in Buenos Aires Neighborhoods: Hedonic Price Regressions and the Life Satisfaction Approach

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Author Info

  • Guillermo Cruces
  • Andrés Ham
  • Martín Tetaz

Abstract

This paper studies quality of life for urban neighborhoods and their determinants in the Buenos Aires Metropolitan Area (AMBA). First, hedonic price regressions for residential prices are augmented with neighborhood characteristics, based on a real estate database with indicators on each property's distance to public facilities and amenities, and on a smaller survey with greater detail. Second, following recent developments in the field of happiness research, the document assesses the importance of different neighborhood characteristics on quality of life by interacting objective and subjective indicators. The results indicate a strong but not perfect correlation between real estate prices, income levels and neighborhood characteristics, suggesting scope for welfare-improving policy interventions.

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Bibliographic Info

Paper provided by Inter-American Development Bank in its series IDB Publications with number 40998.

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Date of creation: Sep 2009
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Handle: RePEc:idb:brikps:40998

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Related research

Keywords: Housing; Urban Development; R-559; cost and standard of living; Buenos Aires; housing costs; Latin American Research Network; life satistfaction;

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  1. Bruno S. Frey & Alois Stutzer, . "What can Economists Learn from Happiness Research?," IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich 080, Institute for Empirical Research in Economics - University of Zurich.
  2. Brueckner, Jan K., 1987. "The structure of urban equilibria: A unified treatment of the muth-mills model," Handbook of Regional and Urban Economics, Elsevier, in: E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 2, chapter 20, pages 821-845 Elsevier.
  3. Howard J. Wall, 1996. "Voting With Your Feet in the United Kingdom," Archive Discussion Papers, Birkbeck, Department of Economics, Mathematics & Statistics 9617, Birkbeck, Department of Economics, Mathematics & Statistics.
  4. Gyourko, Joseph & Kahn, Matthew & Tracy, Joseph, 1999. "Quality of life and environmental comparisons," Handbook of Regional and Urban Economics, Elsevier, in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 37, pages 1413-1454 Elsevier.
  5. Oswald, Andrew J, 1997. "Happiness and Economic Performance," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 107(445), pages 1815-31, November.
  6. van Praag, Bernard M. S. & Baarsma, Barbara E., 2004. "Using Happiness Surveys to Value Intangibles: The Case of Airport Noise," IZA Discussion Papers, Institute for the Study of Labor (IZA) 1096, Institute for the Study of Labor (IZA).
  7. Blomquist, Glenn C & Berger, Mark C & Hoehn, John P, 1988. "New Estimates of Quality of Life in Urban Areas," American Economic Review, American Economic Association, American Economic Association, vol. 78(1), pages 89-107, March.
  8. Edward L. Glaeser & Jed Kolko & Albert Saiz, 2000. "Consumer City," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 1901, Harvard - Institute of Economic Research.
  9. Krutilla, Kerry & Reuveny, Rafael, 2002. "The quality of life in the dynamics of economic development," Environment and Development Economics, Cambridge University Press, Cambridge University Press, vol. 7(01), pages 23-45, February.
  10. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 90(6), pages 1257-78, December.
  11. Rahman, Tauhidur & Mittelhammer, Ron C. & Wandschneider, Philip, 2005. "Measuring the Quality of Life across Countries: A Sensitivity Analysis of Well-being Indices," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) RP2005/06, World Institute for Development Economic Research (UNU-WIDER).
  12. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  13. Enrico Moretti, 2003. "Human Capital Externalities in Cities," NBER Working Papers, National Bureau of Economic Research, Inc 9641, National Bureau of Economic Research, Inc.
  14. Gyourko, Joseph & Tracy, Joseph, 1991. "The Structure of Local Public Finance and the Quality of Life," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 99(4), pages 774-806, August.
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Cited by:
  1. Andrés Ham Gonzalez, 2011. "La Calidad de Vida en los Barrios de Buenos Aires: Estimaciones Hedónicas de la Valuación de los Amenities Urbano y su Distribución Espacial," Department of Economics, Working Papers, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata 088, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
  2. Eduardo Lora & Andrew Powell, 2011. "A New Way of Monitoring the Quality of Urban Life," IDB Publications, Inter-American Development Bank 58658, Inter-American Development Bank.

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