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The Amenity Value Of Climate To Households In Germany

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Author Info
David J. Maddison
Katrin Rehdanz (Research unit Sustainability and Global Change, Hamburg)

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Abstract

This study uses the hedonic approach to measure the amenity value of climate in Germany. Unlike in earlier research separate hedonic wage rate and house price regressions are estimated for relatively small geographic areas and formal tests undertaken to determine whether the coefficients describing the impact of climate variables are homogenous over these areas. The evidence suggests that households in Germany are compensated for climate amenities mainly through hedonic housing markets. Given that climate is largely unproductive to industry and few industries spend more on land than labor this is consistent with what theory would predict. Overall households regard higher January temperatures as an amenity but higher July temperatures as a disamenity.

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File URL: http://www.fnu.zmaw.de/fileadmin/fnu-files/publication/working-papers/FNU39_revised.pdf
File Format: application/pdf
File Function: First version, 2004
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Publisher Info
Paper provided by Research unit Sustainability and Global Change, Hamburg University in its series Working Papers with number FNU-39.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 23 pages
Date of creation: Jan 2004
Date of revision: Jan 2005
Handle: RePEc:sgc:wpaper:39

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Related research
Keywords: amenity value; Climate Change; Germany; Hedonic Pricing;

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Find related papers by JEL classification:
R29 - Urban, Rural, and Regional Economics - - Household Analysis - - - Other
Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Beatriz Gaitan de Soto & Richard S.J. Tol & I. Hakan Yetkiner, 2004. "The Hotelling's Rule Revisited in a Dynamic General Equilibrium Model," Working Papers FNU-44, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2004. [Downloadable!]
    Other versions:
  2. Richard S.J. Tol & Andrea Bigano & Jacqueline M. Hamilton & Yuan Zhou, 2005. "A Global Database of Domestic and International Tourist Numbers at National and Subnational Level," Working Papers 2005.3, Fondazione Eni Enrico Mattei. [Downloadable!]
    Other versions:
  3. P. Michael Link & Richard S.J. Tol, 2004. "Possible Economic Impacts of a Shutdown of the Thermohaline Circulation: an Application of FUND," Working Papers FNU-42, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2004. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Becchetti Leonardo & Castriota Stefano & Londoño Bedoya David Andrés, 2007. "Climate, Happiness and the Kyoto Protocol: Someone Does not Like it Hot," Departmental Working Papers 247, Tor Vergata University, CEIS. [Downloadable!]
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