The Effect of Urban Regeneration Projects on the Nearby Housing Prices in Seoul: Using the Difference-in-Differences Model

2021 ◽  
Vol 56 (4) ◽  
pp. 120-136
Author(s):  
Yong-Baek Lee ◽  
Jangik Jin
Keyword(s):  
Housing Prices ◽  
Urban Regeneration ◽  
Difference In Differences ◽  
The Difference

scholarly journals THE IMPACT OF LUXURY HOUSING ON NEIGHBORHOOD HOUSING PRICES: AN APPLICATION OF THE SPATIAL DIFFERENCE-IN-DIFFERENCES METHOD

2020 ◽  
Vol 24 (6) ◽  
pp. 456-473
Author(s):  
Chih-Min Liang ◽  
Chun-Chang Lee ◽  
You-Hsin Lin ◽  
Zheng Yu ◽  
Wen-Chih Yeh
Keyword(s):  
Spatial Econometrics ◽  
Goodness Of Fit ◽  
Nearest Neighbor ◽  
Housing Prices ◽  
Spillover Effects ◽  
Difference In Differences ◽  
Spatial Error ◽  
Empirical Results ◽  
The Difference ◽  
The Impact

This study investigated the spatial spillover effects of luxury housing during and after construction, in regards to increases in housing prices in neighboring areas as well as the spatial dependence of neighboring housing. This study focused on already completed luxury housing in Taipei, Taiwan. First, the nearest-neighbor matching approach of propensity score matching was used to overcome the problem of data heterogeneity. The difference-in-differences (DD) method and spatial econometrics were used for analysis. The empirical results indicated that the spatial error model had the best goodness of fit. This indicated that housing prices increased by 13.0% during construction of luxury housing nearby. This indicated that housing prices increased by 5.8% after the construction of luxury housing nearby. The empirical results showed that the ongoing and completed construction of luxury housing had spillover effects on housing prices. The effect of ongoing construction of luxury housing was particularly large in scope, indicating its role as a predictor of psychological reaction in the market.

Evaluation of the impact of public investment programs on social and economic performance of territories

2019 ◽  
pp. 109-123
Author(s):  
I. E. Limonov ◽  
M. V. Nesena
Keyword(s):  
Bayesian Modeling ◽  
Positive Impact ◽  
Public Investment ◽  
Difference In Differences ◽  
The Public ◽  
Export Activity ◽  
Regional Investment ◽  
The Difference ◽  
The Impact ◽  
Development Institution

The purpose of this study is to evaluate the impact of public investment programs on the socio-economic development of territories. As a case, the federal target programs for the development of regions and investment programs of the financial development institution — Vnesheconombank, designed to solve the problems of regional development are considered. The impact of the public interventions were evaluated by the “difference in differences” method using Bayesian modeling. The results of the evaluation suggest the positive impact of federal target programs on the total factor productivity of regions and on innovation; and that regional investment programs of Vnesheconombank are improving the export activity. All of the investments considered are likely to have contributed to the reduction of unemployment, but their implementation has been accompanied by an increase in social inequality.

scholarly journals Evaluating the Impact of Floods on Housing Price Using a Spatial Matching Difference-In-Differences (SM-DID) Approach

2021 ◽  
Vol 13 (2) ◽  
pp. 804
Author(s):  
Jean Dubé ◽  
Maha AbdelHalim ◽  
Nicolas Devaux
Keyword(s):  
Housing Price ◽  
Hedonic Pricing ◽  
Environmental Amenities ◽  
Sale Price ◽  
Difference In Differences ◽  
Hedonic Pricing Model ◽  
The Difference ◽  
And Control ◽  
The Impact ◽  
The City

Many applications have relied on the hedonic pricing model (HPM) to measure the willingness-to-pay (WTP) for urban externalities and natural disasters. The classic HPM regresses housing price on a complete list of attributes/characteristics that include spatial or environmental amenities (or disamenities), such as floods, to retrieve the gradients of the market (marginal) WTP for such externalities. The aim of this paper is to propose an innovative methodological framework that extends the causal relations based on a spatial matching difference-in-differences (SM-DID) estimator, and which attempts to calculate the difference between sale price for similar goods within “treated” and “control” groups. To demonstrate the potential of the proposed spatial matching method, the researchers present an empirical investigation based on the case of a flood event recorded in the city of Laval (Québec, Canada) in 1998, using information on transactions occurring between 1995 and 2001. The research results show that the impact of flooding brings a negative premium on the housing price of about 20,000$ Canadian (CAN).

scholarly journals Institutional Reforms and Their Impact on Economic Growth and Investment in Developing Countries

2021 ◽  
Vol 13 (9) ◽  
pp. 4941
Author(s):  
Jin Zhao ◽  
Ghulam Rasool Madni ◽  
Muhammad Awais Anwar ◽  
Syeda Masooma Zahra
Keyword(s):  
Developing Countries ◽  
Economic Prosperity ◽  
Institutional Reforms ◽  
Difference In Differences ◽  
Human Interactions ◽  
Political Reforms ◽  
Vast Literature ◽  
Treatment Analysis ◽  
The Difference ◽  
The Impact

It is widely accepted that the economic and social system may be more efficient by reforming institutions. Institutional reforms are attempts to change the rules affecting human interactions and these reforms are fundamental for development and economic prosperity. The reforms can be divided into two categories; political and economic institutional reforms. It is need of the hour to determine the category of reform that is more suitable for developing countries. Moreover, a vast literature describes the impact of institutional reforms but little focused on exploring their impacts on macroeconomic activities. So, this study is an effort to determine the impact of institutional reforms on macroeconomic variables by considering the panel data of 122 developing countries covering the time span from 1996 to 2019. The study applied treatment analysis using the difference-in-differences technique to gauge the effects of reforms. Besides, it will be interesting to know the causes triggering the institutional reforms in developing countries. The findings of the study reveal that economic reforms are more important as compared with political reforms to grow the economies. The countries focusing on political reforms are not able to overcome the economic crisis. Moreover, both types of reforms do not cause each other in these countries.

scholarly journals Assessment of the Construction of a Climate Resilient City: An Empirical Study Based on the Difference in Differences Model

2021 ◽  
Vol 18 (4) ◽  
pp. 2082
Author(s):  
Zifeng Liang
Keyword(s):  
Significant Contribution ◽  
Evaluation Method ◽  
Regional Climate ◽  
Chinese Government ◽  
Infrastructure Development ◽  
Grey System ◽  
Difference In Differences ◽  
Climate Resilience ◽  
The Difference ◽  
The Impact

Facing climate risks has become a common problem for mankind and a topic of great importance for the Chinese government. To thoroughly implement the overall requirements for the construction of an ecological civilization and effectively improve the capacity of cities to adapt to climate change, China launched the pilot construction of “Climate Resilient Cities” in 2017. In this paper, 16 prefecture level cities in Anhui Province of China were selected as the research objects, and the multi-level grey system evaluation method was used to measure the climate resilience of these regions. We used the difference in differences method to evaluate the effect of the pilot policy of “Climate Resilient Cities.” The pilot policies of the “Climate Resilient Cities” showed a significant contribution to the regional climate resilience, and, after isolating the impact of other factors on the regional climate resilience, the pilot policies of the “Climate Resilient Cities” increased the climate resilience of the pilot cities by four percentage points. The pilot policies of the “Climate Resilient Cities” had a significant contribution to the urban infrastructure development and ecological space optimization, as well as non-significant impacts to the urban water security, emergency management capacity-building, and science and technology innovation initiatives.

scholarly journals PENGARUH PEMERIKSAAN PAJAK TERHADAP KEPATUHAN WAJIB PAJAK BADAN DI INDONESIA

2019 ◽  
Vol 1 (1) ◽  
pp. 21
Author(s):  
Arif Nugrahanto ◽  
Soupani Andri Nasution
Keyword(s):  
Interaction Coefficient ◽  
P Value ◽  
Difference In Differences ◽  
Audit Risk ◽  
Dummy Variable ◽  
Directorate General ◽  
Negative Effect ◽  
Independent Variable ◽  
The Difference ◽  
Positive Effect

Several studies related to the effect of audits on taxpayer compliance provide different conclusions. Bergman and Nevarez (2006) find the fact that tax audits negatively affect compliance. In contrast, Gemmel and Ratto (2012) concluded that the audit had a negative effect on the group of taxpayers who obeyed, and at the same time had a positive effect on the group of taxpayers who did not comply. Given the different conclusions, the researcher is interested in testing in the Indonesian context by using the SIDJP data from the Directorate General of Tax for the period 2009-2013.The difference-in-differences approach model implemented in this study adopts Norman Gemmell and Marissa Ratto (2012). The dependent variable is income tax while the independent variable is the dummy variable for group, time and type of audits. Regression results show that the interaction coefficient between the dummy group variable and the time dummy variable which is the difference-in-differences coefficient, has a p-value that is statistically insignificant to reject null hypothesis. It tells that there is no difference in the level of compliance between the audited (corporate) taxpayer and non-audited (corporate) taxpayers. No impact on the level of compliance of taxpayers may come from several reasons, including the small coverage of the tax audits, the existence of the bomb crater effect, and the results of the type of updating audit risk.

scholarly journals Impacts of light rail in a mid-sized city: Evidence from Olsztyn, Poland

2021 ◽  
Vol 14 (1) ◽  
pp. 821-840
Author(s):  
Adam Radzimski ◽  
Jedrzej Gadzinski
Keyword(s):  
Travel Behavior ◽  
Housing Price ◽  
Academic Community ◽  
Light Rail ◽  
Property Market ◽  
Difference In Differences ◽  
Price Effects ◽  
Northeastern Poland ◽  
The Difference ◽  
Moderate Change

Investments in light rail transit (LRT) have become increasingly popular solutions to promote sustainable urban transportation. However, their impacts on cities are still subject to discussion in the academic community. There is a clear need to better understand the potential impacts of LRT projects, particularly in contexts other than major cities. In this study, we focus on the Olsztyn tram project, which has been implemented in a city of 173,000 residents situated in northeastern Poland. The paper combines different perspectives and data sources, including a study of residents’ stated preferences concerning travel behavior and modelling of housing price effects using the difference-in-differences approach. Our results suggest that the Olsztyn tram project led to a moderate change in travel behavior by increasing the frequency of public transport use but did not result in a substantial shift away from car commuting. Concerning the property market, a decline in prices was observed during the construction phase, but no statistically significant effects were found after completion.

scholarly journals High-speed Railways and Environmental Pollution: The Mediating Effect of Environmental Regulations and Moderating Effect of Officials' Political Promotion Incentives

2021 ◽  
Author(s):  
Liping Li ◽  
Yuandi Wang ◽  
Qisheng Chen ◽  
Jiang Wu ◽  
Ximeng Jia
Keyword(s):  
Environmental Pollution ◽  
High Speed ◽  
Environmental Regulations ◽  
Mediating Effect ◽  
Trend Test ◽  
Difference In Differences ◽  
Mediating Role ◽  
The Difference ◽  
The Government

Abstract This study examines the relationship between high-speed railways (HSRs) and environmental pollution by focusing on the mediating role of environmental regulations and the moderating role of officials’ political promotion incentives. Based on a sample of 113 prefecture-level cities, with balanced panel data in China from 2009 to 2017, using the difference-in-differences (DID) model, the results show that HSRs can reduce environmental pollution via the mediating effect of environmental regulations. Additionally, high officials’ political promotion incentives can strengthen this mediating effect. A propensity score matching with difference-in-differences (PSM-DID) model is used to solve endogenous problems, and a placebo test and a parallel trend test indicate that these results are robust. This study encourages the government to rationally promote the construction of high-speed railways and expand the social advantages of high-speed railways to improve environmental regulations and reduce environmental pollution.

Transgenerational Succession and R&D Investment: A Myopic Loss Aversion Perspective

2021 ◽  
pp. 104225872110384
Author(s):  
Weiwen Li ◽  
Garry D. Bruton ◽  
Xinchun Li ◽  
Shuang Wang
Keyword(s):  
Loss Aversion ◽  
Family Firms ◽  
Empirical Support ◽  
Leadership Transition ◽  
Short Term ◽  
Difference In Differences ◽  
Myopic Loss Aversion ◽  
Negative Effect ◽  
The Difference ◽  
D Investment

A transgenerational leadership transition is one of the most critical events in the life cycle of family firms. Drawing upon the myopic loss aversion (MLA) perspective, we argue that outgoing leaders and other company stakeholders tend to closely watch the later-generation successors immediately after a transgenerational succession, and thus the successors will focus on short-term developments and invest less in R&D activities. Employing the difference-in-differences approach, we find empirical support for our argument that transgenerational succession decreases R&D intensity. The negative effect of transgenerational succession is more pronounced when the later-generation successors suffer from a higher level of MLA.

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