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

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  • Guillermo Cruces
  • Andres Ham
  • Martin Tetaz

Abstract

This paper studies quality of life in urban neighborhoods in the Buenos Aires Metropolitan Area. 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. Indices of quality of life related to local amenities are derived for the different neighborhoods for both the hedonic regression and life satisfaction approaches. 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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Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 3260.

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Date of creation: Sep 2008
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Handle: RePEc:idb:wpaper:3260

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  8. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-78, December.
  9. Howard J. Wall, 1996. "Voting With Your Feet in the United Kingdom," Archive Discussion Papers 9617, Birkbeck, Department of Economics, Mathematics & Statistics.
  10. 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 RP2005/06, World Institute for Development Economic Research (UNU-WIDER).
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Cited by:
  1. Eduardo Lora & Andrew Powell, 2011. "A New Way of Monitoring the Quality of Urban Life," Research Department Publications 4729, Inter-American Development Bank, Research Department.
  2. 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 088, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.

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