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Impact of carbon prices on household behaviors in housing transactions

Author

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  • Kryzanowski, Lawrence
  • Wu, Tingting
  • Wu, Yanting

Abstract

This paper studies how greenhouse gas emissions (GHGe) mitigation policy (i.e., 2018 Greenhouse Gas Pollution Pricing Act or GHGPPA implemented by the Government of Canada) impacts sellers' and buyers' behaviors in housing transactions due to their different reactions to the Act's effect on housing transactions from increased carbon-price awareness. We find no net effect on selling prices after the GHGPPA although sellers (buyers) with greater carbon-price awareness list houses higher (value houses lower). The GHGPPA decreases the house-sale likelihood and lengthens the selling time in carbon-impacted areas. Our results are not driven by emission-intensive fuel usage as house heating inputs. (100 Words).

Suggested Citation

  • Kryzanowski, Lawrence & Wu, Tingting & Wu, Yanting, 2025. "Impact of carbon prices on household behaviors in housing transactions," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    • Handle: RePEc:eee:finana:v:104:y:2025:i:pa:s1057521925003096
    DOI: 10.1016/j.irfa.2025.104222
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    More about this item

    Keywords

    Greenhouse gas mitigation; Buyer-seller behavior; Housing transactions; Carbon-price implementation;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • R28 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Government Policy
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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