The Effect of Price Ceiling System on Existing Housing Prices: An Application of Difference-in-Differences Methods on the Dong-Level Panel Data of Seoul

2017 ◽  
Vol 25 (2) ◽  
pp. 45-69
Author(s):  
Jongman Yoon ◽  
◽  
Kangwoo Park ◽  
Keyword(s):  
Panel Data ◽  
Housing Prices ◽  
Difference In Differences ◽  
Price Ceiling ◽  
Existing Housing

scholarly journals IMPACT OF INFILL DEVELOPMENT ON PRICES OF EXISTING APARTMENTS IN FINNISH URBAN NEIGHBOURHOODS

2018 ◽  
Vol 22 (3) ◽  
pp. 157-167 ◽  
Author(s):  
Hannele AHVENNIEMI ◽  
Kyösti PENNANEN ◽  
Antti KNUUTI ◽  
Anne ARVOLA ◽  
Kauko VIITANEN
Keyword(s):  
Housing Prices ◽  
Property Values ◽  
Environmental Benefits ◽  
Negative Externalities ◽  
Infill Development ◽  
Urban Neighbourhoods ◽  
Negative Effect ◽  
Amenity Effect ◽  
The Impact ◽  
Existing Housing

Popularity of infill development is increasing because of the environmental benefits and cost saving potential it provides, which relate to the possibility to use existing infrastructure and services. However, the impact of infill development on value of existing properties has not been studied to a sufficient extent. Therefore, the aim of our study is to analyse whether infill development affects the prices of existing apartments. We carried out statistical analysis based on data from seven case neighbourhoods, and prices of more than 6000 housing transactions from one decade. The results of our analysis do not support the hypothesis of infill development affecting positively existing housing prices, but neither did the study show a significant negative effect. Both amenity effect and negative externalities may provide explanations as to why property values do not change due to infill development.

EVALUATING THE COMPETITION EFFECTS OF UBER’S ENTRY INTO THE BRAZILIAN INCUMBENT CAB-HAILING APP SEGMENT

2018 ◽  
Vol 14 (4) ◽  
pp. 608-637
Author(s):  
Guilherme Mendes Resende ◽  
Ricardo Carvalho de Andrade Lima
Keyword(s):  
Panel Data ◽  
Spatial Heterogeneity ◽  
Competitive Environment ◽  
Disruptive Effect ◽  
The South ◽  
Difference In Differences ◽  
Data Set ◽  
The North ◽  
Competition Effects

Abstract This paper assesses the competition effects of Uber’s entry into the incumbent cab-hailing app segment in Brazil. Using a monthly panel data set (from 2014 to 2016) covering the Brazilian municipalities and a difference-in-differences estimator, we show that Uber’s entry into the market resulted in an average reduction of 56.8 percent in the number of rides from cab-hailing apps in the cities where the platform operates. The magnitude of this effect suggests that Uber has had a clearly disruptive effect on the incumbent sector. We also found significant spatial heterogeneity in the competition effects of the platform when comparing the markets of the capitals of the North and Northeast regions (where Uber entered late) with the capitals of the South, Southeast, and Central West regions (where Uber entered early). Only in the second group of municipalities, we found that Uber’s entry caused a reduction in taxi fares (reduction of 12.1 percent). This indicates that the cab-hailing app sector reacted to Uber’s entry by offering discounts in fares after a longer period of exposure to a competitive environment.

scholarly journals Precio de la tierra con presión urbana: Un modelo para España

2011 ◽  
Vol 8 (1) ◽  
pp. 3 ◽  
Author(s):  
Esther Decimavilla ◽  
Carlos San Juan ◽  
Stefan Sperlich
Keyword(s):  
Panel Data ◽  
Agricultural Land ◽  
Housing Prices ◽  
Farm Income ◽  
Land Type ◽  
Regional Specialization ◽  
Agricultural Income ◽  
Key Variables ◽  
Agricultural Land Prices ◽  
The Impact

This paper examines agricultural land prices and the variables that affect them as a way of identifying and explaining the recent price cycle in Spain. The key variables in our panel data model are location and expected farm income as fundamental factors and housing prices and increases in irrigated areas as nonfundamental dependant variables. The price cycle is also related to regional specialization and the impact of integration in the CAP. The novelty of the paper consists in the use of panel data models to identify fundamental factors related to agricultural productivity (expected agricultural income) and location and nonfundamental or speculative factors (housing prices, irrigated areas and demographic changes) using regional data associated with land type.

scholarly journals Development charges in Toronto: exploring the disconnect between planning policy and fiscal policy

2021 ◽  
Author(s):  
Angelo Ambrico
Keyword(s):  
Fiscal Policy ◽  
Local Economic Development ◽  
Housing Prices ◽  
Housing Affordability ◽  
Planning Policy ◽  
New Development ◽  
Policy Objectives ◽  
Key Words Development ◽  
The Cost ◽  
Existing Housing

A development charge is a one-time fee that municipalities in Ontario levy on developers to recover growth related costs associated with new development. In Toronto, development charges have increased rapidly amongst surmounting fiscal pressures for growth related capital infrastructure. Research has found that development charges put an upward pressure on housing prices (Ihlanfeldt & Shaughnessy, 2004; Ihlanfeldt & Shaughnessy, 2006; Bryant, 2017), increase the cost of existing housing, (Sishir, 2007) and reduce local economic development activities (Ihlanfeldt & Shaugnessy, 2004; Jones 2015). This paper argues that future increases to development charge rates in the City of Toronto work counterintuitive to its planning policies. The recommendations provided are based on the idea that municipalities must carefully consider the impacts of high development charges alongside planning policy objectives that they aim to achieve. Key Words: Development Charges, Planning Policy, Fiscal Policy, Housing Affordability

scholarly journals Increasing Block Rate Electricity Pricing and Propensity to Purchase Electrical Appliances: Evidence from a Natural Experiment in Russia

Energies ◽  
2021 ◽  
Vol 14 (21) ◽  
pp. 6954
Author(s):  
Salim Turdaliev
Keyword(s):  
Panel Data ◽  
Empirical Evidence ◽  
Natural Experiment ◽  
Electricity Pricing ◽  
Energy Policies ◽  
Difference In Differences ◽  
Household Level ◽  
Percentage Points ◽  
Residential Electricity ◽  
The Relationship

This paper provides empirical evidence on the relationship between the increasing-block-rate (IBR) pricing of electricity and the propensity of households to buy major electrical appliances. I use a variation from a natural experiment in Russia that introduced IBR pricing for residential electricity in a number of experimental regions in 2013. The study employs household-level panel data, which records, among others, whether the household has purchased any major electrical appliances during the last three months. Using a difference-in-differences specification, I show that the purchase of major electrical appliances in the regions with IBR pricing has increased by more than 20% (or more than two percentage points). The findings suggest that price-based energy policies may be an effective tool in shaping the behaviour of households.

scholarly journals The effects of tourism on housing prices: applying a difference-in-differences methodology to the Portuguese market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
António Manuel Cunha ◽  
Júlio Lobão
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Housing Price ◽  
Generalized Least Squares ◽  
Equation Model ◽  
Seemingly Unrelated Regression ◽  
Housing Supply ◽  
Difference In Differences ◽  
Content Type ◽  
Price Increases

Purpose This paper aims to explore the effects of a surge in tourism short-term rentals (STR) on housing prices in municipalities within Portugal’s two largest Metropolitan Statistical Areas. Design/methodology/approach This study applies the difference-in-differences (DiD) methodology by using a feasible generalized least squares (FGLS) estimator in a seemingly unrelated regression (SUR) equation model. Findings The results show that the liberalization of STR had a significant impact on housing prices in municipalities where a higher percentage of housing was transferred to tourism. This transfer led to a leftward shift in the housing supply and a consequent increase in housing prices. These price increases are much higher than those found in previous studies on the same subject. The authors also found that municipalities with more STR had low housing elasticities, which indicates that adjustments to the transfer of real estate from housing to tourism were made by increasing house prices, and not by increasing supply quantities. Practical implications The study suggests that an unforeseen consequence of allowing property owners to transfer the use of real estate from housing to other services (namely, tourism) was extreme housing price increases due to inelastic housing supply. Originality/value This is the first time that the DiD methodology has been applied in real estate markets using FGLS in a SUR equation model and the authors show that it produces more precise estimates than the baseline OLS FE. The authors also find evidence of a supply shock provoked by STR.

scholarly journals Winner–loser effects in contentious constitutional referenda: Perceptions of procedural fairness and the Brexit referendum

2020 ◽  
pp. 136914812093285
Author(s):  
Cees van der Eijk ◽  
Jonathan Rose
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Panel Data ◽  
Public Perceptions ◽  
Causal Effects ◽  
Difference In Differences ◽  
Critical Gap ◽  
The United Kingdom ◽  
General Elections ◽  
Over Time

This article addresses a critical gap in the literature on winner–loser effects that consists of the lack of attention for highly contentious constitutional referenda. It uses unique multi-wave panel data of over 13,000 people that is unrivalled in size and richness. We estimate causal effects of the referendum on rarely studied but crucial public perceptions of the fairness of the way a referendum is conducted. These perceptions pertain to the highly contentious 2016 European Union (Brexit) referendum in the United Kingdom, which is an ideal-type example of a wider class of referenda for which similar outcomes can be expected. We use difference-in-differences methods and find winner–loser effects of a magnitude far greater than ever observed for general elections. Moreover, we find that these effects not only persist, but even grow over time. The findings have profound implications for the use of such referenda.

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