House Prices and the Structure of Local Government: An Application of Spatial Statistics
AbstractWhen two internally homogeneous communities decide to jointly provide a public service, residents of each community lose some control over the public service provision. The loss of control over public schooling provision contributes to a $2,929 or 3.5 percent drop in constant-quality house value. Increased heterogeneity of the consolidated district is responsible for almost all the drop; the increased number of service recipients alone is responsible for almost none of the drop. The spatial hedonic, corrected for sample selection bias, also suggests economies of scale gains from school district consolidation must be worth at least $3,369--4 percent of house value.
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Bibliographic InfoPaper provided by Department of Economics, Louisiana State University in its series Departmental Working Papers with number 2002-17.
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- David M. Brasington, 2004. "House Prices and the Structure of Local Government: An Application of Spatial Statistics," The Journal of Real Estate Finance and Economics, Springer, vol. 29(2), pages 211-231, 09.
- NEP-ALL-2002-08-16 (All new papers)
- NEP-GEO-2002-08-19 (Economic Geography)
- NEP-URE-2002-08-16 (Urban & Real Estate Economics)
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- Nguyen-Hoang, Phuong & Yinger, John, 2011. "The capitalization of school quality into house values: A review," Journal of Housing Economics, Elsevier, vol. 20(1), pages 30-48, March.
- John Yinger, 2009. "Hedonic Markets and Explicit Demands: Bid-Function Envelopes for Public Services, Neighborhood Amenities, and Commuting Costs," Center for Policy Research Working Papers 114, Center for Policy Research, Maxwell School, Syracuse University.
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- Robert Dur & Klaas Staal, 2007. "Local Public Good Provision, Municipal Consolidation, and National Transfers," CESifo Working Paper Series 2061, CESifo Group Munich.
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