scholarly journals International Real Estate Review

2020 ◽  
Vol 23 (2) ◽  
pp. 189-210
Author(s):  
Nicholas Apergis ◽  
Keyword(s):  
Natural Disasters ◽  
Negative Impact ◽  
House Prices ◽  
Panel Regression ◽  
Quantitative Easing ◽  
Real Economy ◽  
Climate Change Effects ◽  
Lower House ◽  
Mitigate Climate Change ◽  
The Impact

Given that the literature on the impact of natural disasters on house prices is highly limited, this paper combines data on natural disasters and house prices from 117 countries, which span the period 2000-2018 and a panel regression method to estimate the effects of natural disasters on house prices. The findings document that natural disasters lead to lower house prices, with the results surviving a number of robustness tests. When examining the impacts of natural disasters by type, the findings highlight that geological disasters exert the strongest (negative) impact on house prices. The results also illustrate the negative impact of those disasters on house prices when also taking the distinction between small and large disasters into account. The findings provide important implications for policymakers and property investors. Lower house prices in countries that experience natural disasters events could significantly signify lower consumption and investment (the wealth effect), with further negative spillovers to the real economy. Economic policymakers could implement low-tax policies or quantitative easing schemes to support these areas/countries. The findings exemplify the need for governments and policymakers to mitigate climate change effects on housing by adopting new and more environmentally friendly technologies and energy sources.

scholarly journals The Impact of Airport Proximity on Single-Family House Prices—Evidence from Poland

2020 ◽  
Vol 12 (19) ◽  
pp. 7928
Author(s):  
Mirosław Bełej ◽  
Radosław Cellmer ◽  
Michał Głuszak
Keyword(s):  
Negative Impact ◽  
House Prices ◽  
Research Result ◽  
External Noise ◽  
Multiple Regression Model ◽  
Geographical Information ◽  
Single Family ◽  
Spatial Autoregressive ◽  
The Impact ◽  
Family House

Airports in Poland are obliged to observe the sustainable development principle and therefore to reduce their environmental impact by creating so-called limited use areas (LUA) related to aircraft-generated noise. The research authors analyzed airports’ impact on the prices of single-family homes located in the vicinity of airports. The LUA is therefore defined as the area designated to study the airport’s specific impact on the single-family housing market. This is a formal limit which determines the examination of price changes and the decision-making conditions of market participants. This methodical approach is justified because no excessive noise is expected outside the LUA. Therefore, two markets in the vicinity of airports were examined. One is in an LUA which is closer to the airport, and the other market is outside the LUA where external noise effects are not present. Thus, we consider that real estate located outside the LUA is not subject to a significant negative impact from the airport. The study covered the Gdańsk Lech Walesa Airport and the Warsaw Chopin Airport in Poland in adjacent areas with the research time horizon of 2013–2017. The study examined single-family house prices. We used a time series analysis, a classic multiple regression model, a spatial autoregressive model, and geographically weighted regression models in our research. Additionally, Geographical Information System (GIS) tools were used to visualize the results of our study. The research result was to demonstrate different impact levels of airports on the prices of single-family houses located in limited-use areas in Gdańsk and Warsaw. This research carries significant implications for the general public and airports’ economic decisions in resolving conflicts between the airport and residential property owners in airports’ vicinities.

scholarly journals Social Vulnerability, Gender and Disasters. The Case of Haiti in 2010

2020 ◽  
Vol 12 (9) ◽  
pp. 3574 ◽  
Author(s):  
Mar Llorente-Marrón ◽  
Montserrat Díaz-Fernández ◽  
Paz Méndez-Rodríguez ◽  
Rosario González Arias
Keyword(s):  
Natural Disasters ◽  
International Development ◽  
Social Vulnerability ◽  
Negative Impact ◽  
Research Work ◽  
The United States ◽  
Negative Effects ◽  
Unequal Distribution ◽  
And Gender ◽  
The Impact

The study of vulnerability constitutes a central axis in research work on sustainability. Social vulnerability (SV) analyzes differences in human capacity to prepare, respond and recover from the impact of a natural hazard. Although disasters threaten all the people who suffer from them, they do not affect all members of society in the same way. Social and economic inequalities make certain groups more vulnerable. Factors such as age, sex, social class and ethnic identity increase vulnerability to a natural disaster. Ten years after the earthquake in Haiti in 2010, this work deepens the relationship between natural disasters, SV and gender, exploring the unequal distribution of the SV in the face of a seismic risk. The source of statistical information has been obtained from the Demographic and Health Survey (DHS), developed by the United States Agency for International Development (USAID). Multicriteria decision techniques (TOPSIS) and the differences in differences (DID) technique are used to analyze variations in gender inequality in SV as a result of the catastrophic event. The results obtained reinforce the idea of the negative impact of the disaster on the SV. Additionally, an intensification of the negative effects is observed when the household is headed by a woman, increasing the gap in SV between households headed by women and the rest of the households. The conclusions obtained show additional evidence of the negative effects caused by natural disasters on women, and important implications for disaster risk management are derived that should not be ignored.

scholarly journals Does Government Quality Spending can reduce Poverty? A Case in East Java Province

2017 ◽  
Vol 5 (1) ◽  
pp. 53-58
Author(s):  
Candra Fajri Ananda ◽  
Moh. Khusaini ◽  
Atu Bagus Wiguna
Keyword(s):  
Local Government ◽  
Government Spending ◽  
Poverty Alleviation ◽  
Negative Impact ◽  
Poverty Rate ◽  
Jel Classification ◽  
Fiscal Year ◽  
Panel Regression ◽  
Education And Health ◽  
The Impact

Objective - The poverty issue in East Java Province is an interesting research object. This phenomenon has retrieved in every fiscal year, although the intergovernmental transfer funds increase significantly annually. In the decentralization era, a region has been authorized to identify its problem and provide solutions based on their initiatives and preferences. The local government through their budget should focus on their problem solving, i.e. poverty alleviation. Utilizing panel regression, we found that government spending on education and health can reduce poverty rate. Methodology/Technique - OLS (Ordinary Least Squared) modelwas utilized to answer the objective of the study, that is, to see how the effect of government spending in various sectorson poverty alleviation. Findings - Using the panel regression model, this study found that government spending on education has a negative impact on poverty rate in the East Java Province. The impact on this variable appears to be statistically significant. Novelty - This study showed that central and local government should synchronize their proposed programs, reducing overlapped programs, to pursue a higher efficiency of budget management. Type of Paper - Empirical/Review Keywords: Quality Spending, Budget Deficit/Surplus, Poverty Alleviation. JEL Classification: H72, I31, I32.

scholarly journals The Impact of Financial Preparation and Disaster Experience on Households’ Disaster Risk Perception: Empirical Evidence from Quang Binh Province, Vietnam

2021 ◽  
Vol 8 (5) ◽  
pp. 344-356
Author(s):  
Tam T. Le ◽  
Trang T.H. Thai ◽  
Thao P. Do
Keyword(s):  
Risk Perception ◽  
Natural Disasters ◽  
Natural Disaster ◽  
Negative Impact ◽  
Positive Impact ◽  
Disaster Risk ◽  
Disaster Experience ◽  
Financial Preparation ◽  
Natural Disaster Risk ◽  
The Impact

This paper is aimed at analysing the impacts of financial preparation and disaster experience on households’ disaster risk perception, including perceptions of likelihood and severity in Quang Binh Province of Vietnam, one of the areas strongly affected by natural disasters and climate change. With the data from direct surveying 308 households in Quang Binh province, the research methodology includes Cronbach’s Alpha, EFA and OLS regression models. The key findings are: First, disaster experience has positive impact on natural disaster risk perception. Second, financial preparation has negative impact on natural disaster risk perception. Third, the risk of natural disasters in Quang Binh Province are increasing and unpredictable due to rapid economic growth and urbanization. This fact requires the Government, provincial commitees, and stakeholders to go beyond traditional coping methods, implement more customized policies and specific actions to try to reduce the risks of natural disasters. Keywords: disaster risk, disaster risk perception, financial preparation, disaster experience.

scholarly journals MODELLING THE IMPACT OF WIND FARMS ON HOUSE PRICES IN THE UK

2008 ◽  
Vol 12 (4) ◽  
pp. 251-269 ◽  
Author(s):  
Sally Sims ◽  
Peter Dent ◽  
G. Reza Oskrochi
Keyword(s):  
Wind Farm ◽  
Negative Impact ◽  
House Prices ◽  
Turbine Blades ◽  
House Price ◽  
Wind Farms ◽  
Causal Link ◽  
Hedonic Pricing ◽  
The Uk ◽  
The Impact

This paper discusses the findings from a UK study to determine the likely impact of a wind farm on house prices using a hedonic pricing model. The Government's commitment to wind power has resulted in a massive increase in the number of wind farms sited in the UK. This has led to concerns that their visual and aural presence could have a negative impact on proximate house prices. This paper presents an analysis of 201sales transactions from houses situated within half a mile of a 16 turbine wind farm in Cornwall, UK. Whilst no causal link was established between the presence of the wind farm and house price, there was some evidence to suggest that both noise and flicker from the turbine blades could blight certain property and that the view of countryside enjoyed by the occupier had some value which may be affected by a wind farm. Santrauka Šiame darbe aptariami JK atlikto tyrimo rezultatai, kuriuo, taikant hedonistinį kainų modelį, siekta nustatyti galimą vėjo jėgainių poveikį namų kainoms. Vyriausybės parama vėjo energijai paskatino naujo elemento, vėjo jėgainės, atsiradimą aplinkoje; susirūpinta, ar vėjo jėgainių vaizdas ir garsas galėtų neigiamai paveikti namų kainas. Šiame darbe nagrinėjamas 201 prekybinis sandoris, susijęs su namais, pusę mylios nutolusiais nuo Bears Down, Kornvalyje (JK), esančio 16 vėjo jėgainių ūkio. Nors priežastinis ryšys tarp vėjo jėgainių ir namų kainos nepastebėtas, yra įrodymų, kad jėgainės keliamas triukšmas ir menčių mirgėjimas kai kuriems nekilnojamojo turto objektams galėtų pakenkti ir kad gyventojui patikęs kaimo vaizdas gali tapti nebepatrauklus.

IMPACT OF WILDFIRES AND FLOODS ON PROPERTY VALUES: A BEFORE AND AFTER ANALYSIS

2016 ◽  
Vol 61 (01) ◽  
pp. 1640002 ◽  
Author(s):  
WASANTHA ATHUKORALA ◽  
WADE MARTIN ◽  
PRASAD NEELAWALA ◽  
DARSHANA RAJAPAKSA ◽  
CLEVO WILSON
Keyword(s):  
Natural Disasters ◽  
Natural Disaster ◽  
House Prices ◽  
Property Values ◽  
Policy Decision ◽  
Control Site ◽  
Property Market ◽  
Park Avenue ◽  
Before And After ◽  
The Impact

One of the most evident casualties of a natural disaster is the property market. The private and social costs from such events run into millions of dollars. In this paper, we use a unique dataset to examine the impact on residential house prices affected by natural disasters using a hedonic property (HP) values approach. For this purpose, we use data before and after a wildfire and floods from Rockhampton in central Queensland, Australia. The data is unique because one suburb was affected by wildfires and another was affected by floods. For the analysis, three suburbs namely Frenchville, Park Avenue and Norman Gardens are used. Frenchville was significantly affected by wildfires in the latter part of 2009 and to a lesser extent in 2012, while Park Avenue was affected by floods at the end of 2010, January 2011–2013. Norman Gardens, which was relatively unaffected, is used as a control site. This enables us to examine the before and after effects on property values in the three suburbs. The results confirm that soon after a natural disaster property prices in affected areas decrease even though the large majority of individual houses remain unaffected. Furthermore, the results indicate that the largely unaffected suburb may gain immediately after a natural disaster but this gain may disappear if natural disasters continue to occur in the area/region due to the stigma created. The results have several important policy decision and welfare implications which are briefly discussed in the paper.

scholarly journals Methodological Tools for Investment Risk Assessment for the Companies of Real Economy Sector

2021 ◽  
Vol 14 (2) ◽  
pp. 78
Author(s):  
Tetiana Zholonko ◽  
Olesia Grebinchuk ◽  
Maryna Bielikova ◽  
Yurii Kulynych ◽  
Olena Oviechkina
Keyword(s):  
Risk Assessment ◽  
Group Process ◽  
Negative Impact ◽  
Investment Project ◽  
Investment Risk ◽  
Accounting System ◽  
Real Economy ◽  
Negative Consequences ◽  
Risk Appetite ◽  
The Impact

Methodological approaches to investing in companies and reducing the negative impact of risks that are formed at the macro and micro levels are considered in the article. The algorithm for expressing investment risks through related risks and conducting an investment risk assessment as a group process is defined. It has been determined that the defining features of investment risks are the environment, duration, and scope of the project, risk position, profile, risk appetite, consequences, capacity, and results of the impact on the investment project. An investment risk accounting system is formed, which is represented by a set of organized structural elements that perform functions related to planning and implementation of a set of measures that identify, assess, monitor, and control risks to minimize negative consequences and enhance opportunities. A method of forming a real portfolio of investment projects considering the dynamic risk factor has been developed.

scholarly journals Assessing the European Central Bank's unconventional measures: A recursive VAR approach

2021 ◽  
Vol 13 (2) ◽  
pp. 11-27
Author(s):  
Filip Peovski ◽  
Gjorgji Gockov
Keyword(s):  
Industrial Production ◽  
Negative Impact ◽  
Balance Sheet ◽  
Quantitative Easing ◽  
Economic Stability ◽  
The Great Recession ◽  
European Central ◽  
Crisis Recovery ◽  
Main Variable ◽  
The Impact

Unconventional monetary measures utilization has proven to be of great importance in maintaining monetary and economic stability after the Great Recession. However, we aim to test this conclusion through the impact of the quantitative easing implemented by the European Central Bank. Observed through generated shocks in the balance sheet of the Eurosystem as our main variable, we tested whether quantitative easing reestablished economic growth and rose price levels, mainly through lowering borrowing costs for banks, thus helping in the post-crisis recovery. To prove our hypotheses we construct a recursive VAR model estimated in levels using 2014M05-2018M12 data. The model incorporates variables such as the industrial production and the HICP, as output and price level proxies, and financial components such as the EONIA-MRO spread and the CISS index. The results show that the expansion shocks of the consolidated balance sheet have a positive temporary influence on industrial production and the HICP, but the reaction of the former seems to be 2.24 times greater. On the other hand, we find out that quantitative easing has an expected negative impact in widening the EONIA-MRO spread. Furthermore, we could not confirm the theoretically expected accommodative impact on financial stress.

scholarly journals Challenges of Monetary Policy during Crisis in the United Kingdom

2018 ◽  
Vol 1 (17) ◽  
pp. 9-19
Author(s):  
Marta Paduszyńska
Keyword(s):  
Monetary Policy ◽  
United Kingdom ◽  
Financial Crisis ◽  
Central Bank ◽  
Negative Impact ◽  
Real Economy ◽  
Negative Effects ◽  
The United Kingdom ◽  
Bank Of England ◽  
The Impact

The topic of the presented study is about the monetary policy in the United Kingdom, included situation and challenges of this policy during crisis. This article presents the structure of the central bank of England as well as economic trends in years 2002–2016. Special attention has been devoted to the Quantitative Easing – unconventional monetary policy followed by central bank in the wake of financial crisis that began in 2007. The main purpose of the article is to show the impact of the financial crisis on the monetary policy in the United Kingdom and methods of dealing with its negative effects. Realisation of this will be studied literature and data compiled by the institutions involved in the discussed issue, especially reports prepared by the Central Bank of England. The financial crisis has had a negative impact on the real economy of the United Kingdom. It limited possibilities of household consumption and also possibilities of investment companies. Both of those, consumption and investment are important determinants of GDP.

scholarly journals Floods, landslides and COVID-19 in the Uttarakhand State, India: Impact of Ongoing Crises on Public Health

2021 ◽  
pp. 1-15
Author(s):  
Anna Chiara Corriero ◽  
Fatima Muhammad Asad Khan ◽  
Esther Edet Bassey ◽  
Oumnia Bouaddi ◽  
Ana Carla dos Santos Costa ◽  
...  
Keyword(s):  
Public Health ◽  
Economic Development ◽  
Health Service ◽  
Health System ◽  
Natural Disasters ◽  
Negative Impact ◽  
Prevention Measures ◽  
Humanitarian Crisis ◽  
Northern India ◽  
The Impact

Abstract The Uttarakhand State, known for its Himalayan mountains, is a territory in Northern India that is extremely vulnerable to earthquakes, landslides, and floods. Therefore, due to the COVID-19 outbreak, currently, India is facing the dual challenge of containing a pandemic and responding to natural disasters. This situation can have a negative impact on the health and in the economic development of the region, leading to a long-lasting humanitarian crisis that can disrupt even more the already overburdened health service. In addition, it can pose serious threats to the wellbeing of the population as it complicates physical distancing and other COVID-19 prevention measures. It is of utmost importance to analyse the impact of floods, landslides, and COVID-19 pandemic on the health system of the Uttarakhand State, and how these crises interact with each other.

Sign in / Sign up

Export Citation Format

Share Document