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Empirics on the Long-Run Effects of Building Energy Codes in the Housing Market

Author

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  • Makram El-Shagi
  • Claus Michelsen
  • Sebastian Rosenschon

Abstract

We study the effectiveness of building energy codes, taking a long-run perspective. The focus is on regulation’s impact on energy demand in both high- and low-quality residences, in other words, the diffusion and the entry of “green” buildings in the housing market. We develop a measure for regulation intensity and apply this to a panel-error-correction regression model for energy requirements of a large sample of German apartment houses built between 1950 and 2005. We show that regulation is effective in saving energy. In particular, regulation pushes investors in the low-quality housing market segment toward the technological frontier. Indirectly, it also affects the high-quality segment.

Suggested Citation

  • Makram El-Shagi & Claus Michelsen & Sebastian Rosenschon, 2017. "Empirics on the Long-Run Effects of Building Energy Codes in the Housing Market," Land Economics, University of Wisconsin Press, vol. 93(4), pages 585-607.
    • Handle: RePEc:uwp:landec:v:93:y:2017:i:4:p:585-607
    Note: DOI: 10.3368/le.93.4.585
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    Cited by:

    1. Holian, Matthew J., 2020. "The impact of building energy codes on household electricity expenditures," Economics Letters, Elsevier, vol. 186(C).
    2. Singhal, Puja & Hobbs, Andrew, 2021. "The Distribution of Energy Efficiency and Regional Inequality," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242343, Verein für Socialpolitik / German Economic Association.

    More about this item

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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