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Homevoters vs. leasevoters: a spatial analysis of airport effects

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  • Gabriel M. Ahlfeldt

    ()
    (London School of Economics and Political Science (LSE) & Spatial Economics Research Centre (SERC))

  • Wolfgang Maennig

    ()
    (University of Hamburg)

Abstract

We use a public referendum on a new air traffic concept in Berlin, Germany as a natural experiment to analyze how the interaction of tenure and capitalization effects shapes the outcome of direct democracy processes. We distinguish between homevoters, i.e., voters who are homeowners, and leasevoters, i.e., voters who lease their homes. We expect the former to be more likely to support or op-pose initiatives that positively or negatively affect the amenity value of a neighborhood because some of the related benefits or costs of the latter are neutralized by adjustments in market rents (capitalization). Our empirical results are in line with our theoretical expectations and imply that public votes on local public goods do not necessarily reflect the spatial distribution of welfare effects in mixed-tenure environments.

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Bibliographic Info

Paper provided by Institut d'Economia de Barcelona (IEB) in its series Working Papers with number 2013/15.

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Length: 66 pages
Date of creation: 2013
Date of revision:
Handle: RePEc:ieb:wpaper:2013/6/doc2013-15

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Keywords: Referendum; homevoters; leasevoters; NIMBYism; rents; noise; airports; Berlin;

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References

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  1. Ahlfeldt, Gabriel M., 2011. "Blessing or curse? Appreciation, amenities and resistance to urban renewal," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 41(1), pages 32-45, January.
  2. Raquel Arévalo & Javier Ruiz-Castillo, 2006. "On the Imputation of Rental Prices to Owner-occupied Housing," Journal of the European Economic Association, MIT Press, MIT Press, vol. 4(4), pages 830-861, 06.
  3. Morris A. Davis & François Ortalo-Magné, 2007. "Household Expenditures, Wages, Rents," CESifo Working Paper Series 2156, CESifo Group Munich.
  4. Volker Nitsch, 2009. "Fly or Cry: Is Airport Noise Costly?," CESifo Working Paper Series 2732, CESifo Group Munich.
  5. Helios Herrera & Andrea Mattozzi, 2010. "Quorum and Turnout in Referenda," Journal of the European Economic Association, European Economic Association, European Economic Association, vol. 8(4), pages 838-871, 06.
  6. Melanie Arntz & Ralf A. Wilke, 2007. "An application of cartographic area interpolation to German administrative data," AStA Advances in Statistical Analysis, Springer, Springer, vol. 91(2), pages 159-180, August.
  7. Dehring, Carolyn A. & Depken II, Craig A. & Ward, Michael R., 2008. "A direct test of the homevoter hypothesis," Journal of Urban Economics, Elsevier, vol. 64(1), pages 155-170, July.
  8. Brunner, Eric & Sonstelie, Jon, 2003. "Homeowners, property values, and the political economy of the school voucher," Journal of Urban Economics, Elsevier, vol. 54(2), pages 239-257, September.
  9. Jon P. Nelson, 2004. "Meta-Analysis of Airport Noise and Hedonic Property Values," Journal of Transport Economics and Policy, London School of Economics and University of Bath, London School of Economics and University of Bath, vol. 38(1), pages 1-27, January.
  10. McMillen, Daniel P., 1996. "One Hundred Fifty Years of Land Values in Chicago: A Nonparametric Approach," Journal of Urban Economics, Elsevier, vol. 40(1), pages 100-124, July.
  11. Gabriel M. Ahlfeldt & Wolfgang Maennig, 2011. "External productivity and utility effects of city airports," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 33897, London School of Economics and Political Science, LSE Library.
  12. Frey, Bruno S & Oberholzer-Gee, Felix & Eichenberger, Reiner, 1996. "The Old Lady Visits Your Backyard: A Tale of Morals and Markets," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 104(6), pages 1297-1313, December.
  13. Brunner, Eric & Sonstelie, Jon & Thayer, Mark, 2001. "Capitalization and the Voucher: An Analysis of Precinct Returns from California's Proposition 174," Journal of Urban Economics, Elsevier, vol. 50(3), pages 517-536, November.
  14. Christian A. L. Hilber & Christopher J. Mayer, 2004. "Why Do Households Without Children Support Local Public Schools?," NBER Working Papers 10804, National Bureau of Economic Research, Inc.
  15. Halvorsen, Robert & Palmquist, Raymond, 1980. "The Interpretation of Dummy Variables in Semilogarithmic Equations," American Economic Review, American Economic Association, American Economic Association, vol. 70(3), pages 474-75, June.
  16. Stephanie Riegg Cellini & Fernando Ferreira & Jesse Rothstein, 2010. "The Value of School Facility Investments: Evidence from a Dynamic Regression Discontinuity Design," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 125(1), pages 215-261, February.
  17. 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..
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Cited by:
  1. Gabriel M. Ahlfeldt & Wolfgang Maennig & Felix J. Richter, 2013. "Urban Renewal after the Berlin Wall," Working Papers 049, Chair for Economic Policy, University of Hamburg.
  2. Christian A. L. Hilber & Jan Rouwendal & Wouter Vermeulen, 2014. "Local Economic Conditions and the Nature of New Housing Supply," SERC Discussion Papers, Spatial Economics Research Centre, LSE 0164, Spatial Economics Research Centre, LSE.

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