La Dolce Vita: Hedonic Estimates of Quality of Life in Italian Cities
AbstractThis paper provides an assessment of quality of life in Italian cities using the hedonic approach. We analyze micro-level data for housing and labor markets to estimate compensating differentials for local amenities within five domains: climate, environment, services, society and economy. The estimated implicit prices are used to construct overall and domain-specific quality of life indices. We find that differences in amenities are reflected in substantial compensating differentials in housing prices, whereas the effects on wages are relatively small. Quality of life varies substantially across space and is strongly related to differences in public services and economic conditions. Overall, quality of life is highest in medium-sized cities of the Center-North, displaying relatively high scores in all the domains considered. Northern cities fare better with respect to services, social and economic conditions, while relatively worse for climate and environmental conditions.
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Bibliographic InfoPaper provided by University of Milano-Bicocca, Department of Economics in its series Working Papers with number 201.
Length: 32 pages
Date of creation: Dec 2010
Date of revision: Dec 2010
quality of life; hedonic prices; housing markets;
Find related papers by JEL classification:
- C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- H4 - Public Economics - - Publicly Provided Goods
- J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
- J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
- P2 - Economic Systems - - Socialist Systems and Transition Economies
- P3 - Economic Systems - - Socialist Institutions and Their Transitions
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
- R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-03-12 (All new papers)
- NEP-CBE-2011-03-12 (Cognitive & Behavioural Economics)
- NEP-ENV-2011-03-12 (Environmental Economics)
- NEP-HAP-2011-03-12 (Economics of Happiness)
- NEP-SOC-2011-03-12 (Social Norms & Social Capital)
- NEP-URE-2011-03-12 (Urban & Real Estate Economics)
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- Francesco Burchi & Chiara Gnesi, 2013. "A review of the literature on well-being in Italy: A human development perspective," Departmental Working Papers of Economics - University 'Roma Tre' 0175, Department of Economics - University Roma Tre.
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Econometica Working Papers
- Becchetti, Leonardo & Pisani, Fabio, 2012. "Family money, relational life and (class) relative wealth: an empirical analysis on life satisfaction of secondary school students," AICCON Working Papers 101-2012, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
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- Emilio Colombo & Luca Stanca, 2013. "Measuring the Monetary Value of Social Relations: a Hedonic Approach," Working Papers 256, University of Milano-Bicocca, Department of Economics, revised Oct 2013.
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