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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)

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 Function: First version, 2004
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Bibliographic Info

Paper provided by Research unit Sustainability and Global Change, Hamburg University in its series Working Papers with number FNU-39.

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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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References

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  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.
  2. Andrea Bigano & Jacqueline M. Hamilton & Maren A. Lau & Richard S.J. Tol & Zhou Yuan, 2004. "A Global Database Of Domestic And International Tourist Numbers At National And Subnational Level," Working Papers FNU-54, Research unit Sustainability and Global Change, Hamburg University, revised Nov 2004.
  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.
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Citations

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Cited by:
  1. Thomas Murray & David Maddison & Katrin Rehdanz, 2011. "Do Geographical Variations in Climate Influence Life Satisfaction?," Kiel Working Papers 1694, Kiel Institute for the World Economy.
  2. Leonardo Becchetti, 2010. "The Money–Happiness Relationship in Transition Countries: Evidence from Albania," Transition Studies Review, Springer, vol. 17(1), pages 39-62, May.
  3. Kopmann, Angela & Rehdanz, Katrin, 2013. "A human well-being approach for assessing the value of natural land areas," Ecological Economics, Elsevier, vol. 93(C), pages 20-33.
  4. Howard, Peter H., 2012. "Climate Change, Vegetation, and Welfare: Estimating the Welfare Loss to Landowners of Marginal Shifts in Blue Oak Habitat," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124744, Agricultural and Applied Economics Association.
  5. Zhou Yuan & Richard S.J. Tol, 2005. "Water Use in China’s Domestic, Industrial and Agricultural Sectors: An Empirical Analysis," Working Papers FNU-67, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2005.

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