The rich, the clean, and the kind - a comprehensive wealth index for cities applied to the case of Germany
AbstractWe develop a comprehensive wealth index for cities that measures their endowment with environmental, energy, social, human, and economic capital stocks. We apply this index to the 100 largest autonomous cities in Germany. We find that (i) a good economic performance does not need to come at the cost of environmental degradation; (ii) clear regional differences exist between West and East Germany and between North and South Germany; and (iii) social preferences reflected in the comprehensive wealth index account for roughly half of the variation in housing rents, which reflect individual willingness to pay for living in a certain city
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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1828.
Length: 41 pages
Date of creation: Feb 2013
Date of revision:
comprehensive wealth; city; social preferences;
Find related papers by JEL classification:
- Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-02 (All new papers)
- NEP-EUR-2013-03-02 (Microeconomic European Issues)
- NEP-URE-2013-03-02 (Urban & Real Estate Economics)
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