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The amenity value of climate change across different regions in the United States

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  • Gregmar I. Galinato
  • Pitchayaporn Tantihkarnchana

Abstract

This article estimates the effect of climatic variables on house prices near ski resorts in different regions in the United States. We find that among the climate variables we test, average winter temperature has the most significant and robust effect where an increase in this climate variable increases house prices near ski resorts at a decreasing rate. At the mean average winter temperature levels, an increase in average winter temperature reduces housing prices for all regions except the Northeast. The consumer surplus from projected average winter temperature changes is negative across all regions and the largest negative effects are in the Midwest and Mountain regions.

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  • Gregmar I. Galinato & Pitchayaporn Tantihkarnchana, 2018. "The amenity value of climate change across different regions in the United States," Applied Economics, Taylor & Francis Journals, vol. 50(37), pages 4024-4039, August.
    • Handle: RePEc:taf:applec:v:50:y:2018:i:37:p:4024-4039
    DOI: 10.1080/00036846.2018.1441507
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    Cited by:

    1. Mohammad Reza Farzanegan & Mehdi Feizi & Hassan F. Gholipour, 2019. "Drought and Property Prices: Empirical Evidence from Iran," MAGKS Papers on Economics 201916, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    2. Michele Cascarano & Filippo Natoli, 2023. "Temperatures and search: evidence from the housing market," Temi di discussione (Economic working papers) 1419, Bank of Italy, Economic Research and International Relations Area.
    3. Patrick Gourley, 2021. "Curb appeal: how temporary weather patterns affect house prices," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 67(1), pages 107-129, August.
    4. Mohammad Reza Farzanegan & Mehdi Feizi & Hassan F. Gholipour, 2021. "Drought and Property Prices: Empirical Evidence from Provinces of Iran," Economics of Disasters and Climate Change, Springer, vol. 5(2), pages 203-221, July.

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    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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