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The train has left the station: Do markets value intra-city access to inter-city rail connections?

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Author Info
Ahlfeldt, Gabriel M.

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Abstract

This paper analyzes the impact of access to inter-city rail connections on property prices using hedonic, difference-in-difference and time-difference estimation strategies. We investigate the reorganization of the rail system in post-unification Berlin, Germany, which provides much variation in accessibility. Evidence does not support the existence of localized effects. Neither in proximity to stations nor at city-level are there significant price adjustments. No significant price effect is revealed on distance to stations, even when allowing for a complementary relationship. An increase in the attractiveness of central locations coinciding with the final announcement of the train schedule is not attributable to the intervention.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13900.

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Date of creation: 09 Mar 2009
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Handle: RePEc:pra:mprapa:13900

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Related research
Keywords: Property prices; transport innovation; inter-city connection; railroad; Berlin;

Find related papers by JEL classification:
R0 - Urban, Rural, and Regional Economics - - General

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