Implicit amenity prices and the location of retirees in England and Wales
General equilibrium models in which compensation for local amenities occurs in both housing and labour markets have been widely used to generate implicit amenity prices and regional quality of life indices. An implication and prospective test of such models is that individuals who are outside the labour market have an incentive to locate in regions where amenities are capitalised into wages. In this paper we construct a measure of the extent of amenity capitalisation into wages for each county in England and Wales. We then test the multimarket amenity model by applying this measure to county-level data on the location of retirees. Our results provide strong support for the model
|Date of creation:||01 Jan 2009|
|Date of revision:|
|Contact details of provider:|| Postal: Highfield, Southampton SO17 1BJ|
Phone: (+44) 23 80592537
Fax: (+44) 23 80593858
Web page: http://www.economics.soton.ac.uk/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stuart Gabriel & Stuart S. Rosenthal, 2003.
"Quality of the Business Environment Versus Quality of Life: Do Firms and Households Like the Same Cities?,"
8615, USC Lusk Center for Real Estate.
- Stuart A. Gabriel & Stuart S. Rosenthal, 2004. "Quality of the Business Environment Versus Quality of Life: Do Firms and Households Like the Same Cities?," The Review of Economics and Statistics, MIT Press, vol. 86(1), pages 438-444, February.
- Graves, Philip E & Waldman, Donald M, 1991. "Multimarket Amenity Compensation and the Behavior of the Elderly," American Economic Review, American Economic Association, vol. 81(5), pages 1374-81, December.
- Berger, Mark C. & Blomquist, Glenn C. & Peter, Klara Sabirianova, 2003.
"Compensating Differentials in Emerging Labor and Housing Markets: Estimates of Quality of Life in Russian Cities,"
IZA Discussion Papers
900, Institute for the Study of Labor (IZA).
- Berger, Mark C. & Blomquist, Glenn C. & Sabirianova Peter, Klara, 2008. "Compensating differentials in emerging labor and housing markets: Estimates of quality of life in Russian cities," Journal of Urban Economics, Elsevier, vol. 63(1), pages 25-55, January.
- Blomquist, Glenn C & Berger, Mark C & Hoehn, John P, 1988. "New Estimates of Quality of Life in Urban Areas," American Economic Review, American Economic Association, vol. 78(1), pages 89-107, March.
- Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-78, December.
- Gyourko, Joseph & Tracy, Joseph, 1991. "The Structure of Local Public Finance and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 99(4), pages 774-806, August.
- Sylaja Srinivasan & Geoff Stewart, 2004. "The Quality of Life in England and Wales," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(1), pages 1-22, 02.
When requesting a correction, please mention this item's handle: RePEc:stn:sotoec:0914. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Thorn)
If references are entirely missing, you can add them using this form.