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Looming stations: Valuing transport innovations in historical context

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  • Ahlfeldt, Gabriel M.
  • Wendland, Nicolai

Abstract

We investigate the impact of transport innovations on the productivity of urban locations in 1890-1936 Berlin, Germany. We find an increase in land value of up to 2.5% per 100Â m decline in distance to urban railway station.

Suggested Citation

  • Ahlfeldt, Gabriel M. & Wendland, Nicolai, 2009. "Looming stations: Valuing transport innovations in historical context," Economics Letters, Elsevier, vol. 105(1), pages 97-99, October.
  • Handle: RePEc:eee:ecolet:v:105:y:2009:i:1:p:97-99
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    References listed on IDEAS

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    1. Gabriel Ahlfeldt & Wolfgang Maennig, 2010. "Impact of sports arenas on land values: evidence from Berlin," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 44(2), pages 205-227, April.
    2. Robert E. Lucas, Jr., 2001. "Externalities and Cities," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(2), pages 245-274, April.
    3. Fujita, Masahisa & Ogawa, Hideaki, 1982. "Multiple equilibria and structural transition of non-monocentric urban configurations," Regional Science and Urban Economics, Elsevier, vol. 12(2), pages 161-196, May.
    4. Daniel P. McMillen & John McDonald, 2004. "Reaction of House Prices to a New Rapid Transit Line: Chicago's Midway Line, 1983-1999," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 32(3), pages 463-486, September.
    5. Atack, Jeremy & Margo, Robert A, 1998. ""Location, Location, Location!" The Price Gradient for Vacant Urban Land: New York, 1835 to 1900," The Journal of Real Estate Finance and Economics, Springer, vol. 16(2), pages 151-172, March.
    6. Gibbons, Stephen & Machin, Stephen, 2005. "Valuing rail access using transport innovations," Journal of Urban Economics, Elsevier, vol. 57(1), pages 148-169, January.
    7. LeRoy, Stephen F. & Sonstelie, Jon, 1983. "Paradise lost and regained: Transportation innovation, income, and residential location," Journal of Urban Economics, Elsevier, vol. 13(1), pages 67-89, January.
    8. Gabriel Ahlfeldt & Nicolai Wendeland, 2008. "Fifty Years of Urban Accessibility: The Impact of Urban Railway Network on the Land Gradient in Industrializing Berlin," KOF Working papers 08-208, KOF Swiss Economic Institute, ETH Zurich.
    9. Dean H. Gatzlaff & Marc T. Smith, 1993. "The Impact of the Miami Metrorail on the Value of Residences near Station Locations," Land Economics, University of Wisconsin Press, vol. 69(1), pages 54-66.
    10. Margo, Robert A., 1996. "The Rental Price of Housing in New York City, 1830–1860," The Journal of Economic History, Cambridge University Press, vol. 56(03), pages 605-625, September.
    11. McMillen, Daniel P., 1996. "One Hundred Fifty Years of Land Values in Chicago: A Nonparametric Approach," Journal of Urban Economics, Elsevier, vol. 40(1), pages 100-124, July.
    12. Bowes, David R. & Ihlanfeldt, Keith R., 2001. "Identifying the Impacts of Rail Transit Stations on Residential Property Values," Journal of Urban Economics, Elsevier, vol. 50(1), pages 1-25, July.
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    Cited by:

    1. Gabriel M. Ahlfeldt & Arne Feddersen, 2010. "From periphery to core: economic adjustments to high speed rail," Working Papers 2010/38, Institut d'Economia de Barcelona (IEB).
    2. Ahlfeldt, Gabriel M., 2011. "If we build, will they pay?: predicting property price effects of transport innovations," LSE Research Online Documents on Economics 33595, London School of Economics and Political Science, LSE Library.
    3. Rosa M. González-Marrero & Rosa M. Lorenzo-Alegría & Gustavo A. Marrero, 2011. "Los Efectos Territoriales de las Infraestructuras: La inversión en redes de alta velocidad ferroviaria," Economic Reports 05-2011, FEDEA.
    4. Ahlfeldt, Gabriel M. & Wendland, Nicolai, 2011. "Fifty years of urban accessibility: The impact of the urban railway network on the land gradient in Berlin 1890-1936," Regional Science and Urban Economics, Elsevier, vol. 41(2), pages 77-88, March.
    5. Nicolai Wendland, 2015. "All access: a micro-level case study on the secondary center of Berlin (1871–1936)," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 54(2), pages 375-399, March.
    6. Gabriel M. Ahlfeldt & Wolfgang Maennig, 2011. "Homeownership and NIMBYism: A Spatial Analysis of Airport Effects," SERC Discussion Papers 0085, Spatial Economics Research Centre, LSE.
    7. Gabriel M. Ahlfeldt, 2011. "The Train has Left the Station: Do Markets Value Intracity Access to Intercity Rail Connections?," German Economic Review, Verein für Socialpolitik, vol. 12(3), pages 312-335, August.

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