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New Flight Regimes and Exposure to Aircraft Noise: Identifying Housing Price Effects Using a Ratio-of-Ratios Approach

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Author Info
Stefan Boes () (Socioeconomic Institute, University of Zurich)
Stephan Nüesch () (Institute of Strategy and Business Economics, University of Zurich)

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Abstract

In October 2003, a new flight regime was introduced at Zurich airport that significantly changed the levels of noise pollution in surrounding communities. We investigate the impact of the new flight policy on apartment prices using a hedonic price model and a non-linear difference-in-differences identification strategy. Our results suggest that rental prices increased by about 3 to 8 percent less in regions affected by the policy change, controlling for several apartment and location characteristics. The noise discount is still significant, although smaller, even after the inclusion of object-speciffc fixed effects. However, we do not find evidence of price changes in the sales market.

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File URL: http://www.soi.uzh.ch/research/wp/2009/wp0906.pdf
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Publisher Info
Paper provided by University of Zurich, Socioeconomic Institute in its series Working Papers with number 0906.

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Length: 40 pages
Date of creation: Apr 2009
Date of revision:
Handle: RePEc:soz:wpaper:0906

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Related research
Keywords: quasi-experimental data; housing market; aircraft noise; hedonic approach; non-linear difference-in-differences; policy evaluation;

Find related papers by JEL classification:
C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
R21 - Urban, Rural, and Regional Economics - - Household Analysis - - - Housing Demand

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