The political economy of housing prices: Hedonic pricing with regression discontinuity
This paper uses hedonic pricing to empirically estimate the value of publicly provided local goods and services in the constituencies of the ruling party relative to those of the opposition parties. To improve control for omitted variables that change smoothly over space, we use a regression discontinuity design to restrict the sample to houses that are near the electoral boundaries. Using resale market prices of public flats in Singapore, in some cases we find a moderate but highly statistically significant difference in housing prices across the electoral boundaries that separate the constituencies of the ruling party and the opposition parties.
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- Thomas J. Holmes, 1998. "The Effect of State Policies on the Location of Manufacturing: Evidence from State Borders," Journal of Political Economy, University of Chicago Press, vol. 106(4), pages 667-705, August.
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- Keefer, Philip, 2004. "A review of the political economy of governance : from property rights to voice," Policy Research Working Paper Series 3315, The World Bank. Full references (including those not matched with items on IDEAS)
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