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Interjurisdictional housing prices and spatial amenities: Which measures of housing prices reflect local public goods?

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  • Banzhaf, H. Spencer
  • Farooque, Omar

Abstract

Understanding the spatial variation in housing prices plays a crucial role in topics ranging from the cost of living to quality-of-life indices to studies of public goods and household mobility. Yet analysts have not reached a consensus on the best source of such data, variously using transaction values, self-reported values from the census, and rental values. Additionally, while most studies use micro-level data, some have used summary statistics such as the median housing value.

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  • Banzhaf, H. Spencer & Farooque, Omar, 2013. "Interjurisdictional housing prices and spatial amenities: Which measures of housing prices reflect local public goods?," Regional Science and Urban Economics, Elsevier, vol. 43(4), pages 635-648.
  • Handle: RePEc:eee:regeco:v:43:y:2013:i:4:p:635-648
    DOI: 10.1016/j.regsciurbeco.2013.03.006
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    2. David A. Keiser & Joseph K. Shapiro, 2017. "Consequences of the Clean Water Act and the Demand for Water Quality," Center for Agricultural and Rural Development (CARD) Publications 17-wp571, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    3. Peter McHenry & Melissa McInerney, 2015. "Estimating Hispanic-White Wage Gaps Among Women: The Importance of Controlling for Cost of Living," Journal of Labor Research, Springer, vol. 36(3), pages 249-273, September.
    4. Peter McHenry & Melissa McInerney, 2014. "The Importance of Cost of Living and Education in Estimates of the Conditional Wage Gap Between Black and White Women," Journal of Human Resources, University of Wisconsin Press, vol. 49(3), pages 695-722.
    5. Lang, Corey, 2015. "The dynamics of house price responsiveness and locational sorting: Evidence from air quality changes," Regional Science and Urban Economics, Elsevier, vol. 52(C), pages 71-82.
    6. John Winters, 2013. "Differences in quality of life estimates using rents and home values," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 51(2), pages 377-409, October.
    7. Marco Gonzalez-Navarro & Climent Quintana-Domeque, 2016. "Paving Streets for the Poor: Experimental Analysis of Infrastructure Effects," The Review of Economics and Statistics, MIT Press, vol. 98(2), pages 254-267, May.
    8. Joseph S. Shapiro & David A. Keiser, 2017. "Consequences of the Clean Water Act and the Demand for Water Quality," Cowles Foundation Discussion Papers 2070, Cowles Foundation for Research in Economics, Yale University.
    9. Clay, Karen & Lewis, Joshua & Severnini, Edson R., 2016. "Canary in a Coal Mine: Infant Mortality, Property Values, and Tradeoffs Associated with Mid-20th Century Air Pollution," IZA Discussion Papers 9884, Institute for the Study of Labor (IZA).
    10. Christoph Basten & Maximilian von Ehrlich & Andrea Lassmann, 2014. "Income Taxes, Sorting, and the Costs of Housing," KOF Working papers 14-362, KOF Swiss Economic Institute, ETH Zurich.
    11. Kortelainen, Mika & Saarimaa, Tuukka, 2012. "Do homeowners benefit urban neighborhoods? evidence from housing prices," LSE Research Online Documents on Economics 57923, London School of Economics and Political Science, LSE Library.
    12. repec:wly:econjl:v::y:2017:i:601:p:653-687 is not listed on IDEAS
    13. Christoph Basten & Maximilian Ehrlich & Andrea Lassmann, 2017. "Income Taxes, Sorting and the Costs of Housing: Evidence from Municipal Boundaries in Switzerland," Economic Journal, Royal Economic Society, vol. 0(601), pages 653-687, May.
    14. David A. Keiser & Joseph S. Shapiro, 2017. "Consequences of the Clean Water Act and the Demand for Water Quality," NBER Working Papers 23070, National Bureau of Economic Research, Inc.
    15. Chung, Il Hwan, 2015. "School choice, housing prices, and residential sorting: Empirical evidence from inter-and intra-district choice," Regional Science and Urban Economics, Elsevier, vol. 52(C), pages 39-49.

    More about this item

    Keywords

    Housing prices; Price index; Capitalization;

    JEL classification:

    • H4 - Public Economics - - Publicly Provided Goods
    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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