scholarly journals Quantifying Real Estate Externalities: Evidence on the Whole Foods Effect

2020 ◽  
Vol 18 ◽  
pp. 37-46
Author(s):  
Kanis Saengchote
Keyword(s):  
Real Estate ◽  
Local Community ◽  
Statistical Analyses ◽  
Difference In Differences ◽  
Property Prices ◽  
Causal Impact ◽  
The Difference ◽  
Benefits And Costs ◽  
Econometric Technique ◽  
Whole Foods

Real estate amenities can create both benefits and costs to local community, which economists call externalities. Quantification of externalities is challenging because of potential endogeneity problems that render simple statistical analyses inaccurate, necessitating the use of a more rigorous econometric technique. Exploiting store expansion activities of Whole Foods Market to infer the causal impact of the Whole Foods Effect using the difference-in-differences strategy, we find that property prices within 0.5 mile of a new Whole Foods Market store increase on average by 6.7% after a new store opens.

scholarly journals Optimal Budget Allocations for Protected Area Acquisition To Store Carbon in a Local Community Under Economic Growth Uncertainty

2020 ◽  
Vol 49 (2) ◽  
pp. 209-236
Author(s):  
Bijay P. Sharma ◽  
Seong-Hoon Cho ◽  
Chad M. Hellwinckel
Keyword(s):  
Economic Growth ◽  
Protected Areas ◽  
Carbon Storage ◽  
Protected Area ◽  
Local Community ◽  
Risk Mitigation ◽  
Trade Off ◽  
The Difference ◽  
Benefits And Costs ◽  
Growth Scenario

We analyze optimal budget allocations to acquire protected areas for carbon storage while balancing risk and return from protection under economic growth uncertainty in a local community. Our study is the first to explore how risk of uncertain economic growth affects cost of protected area acquisition using real estate values at the parcel level, enabling us to estimate the site-specific opportunity cost of carbon storage. The Pareto optimal trade-off frontier between the expected carbon storage benefit and its variance provides a continuum of risk-return combinations. The pattern of the trade-off relationship implies that risk mitigation is less costly in terms of foregone expected benefit when risk is higher than when it is lower. Our results also find that the difference in cluster-specific budget allocations between the strong economic growth scenario and the weak economic growth scenario subsequently decreases between the point of expected benefit maximization and the point of variance minimization. Our findings of optimal hectares of land for protected area acquisition for carbon storage and corresponding benefits and costs serve as an empirically informed knowledge base to help a local community prioritize acquisition of potential protected areas for carbon storage under economic growth uncertainty.

scholarly journals Business diversification and multifaceted markets

2021 ◽  
Author(s):  
Koki Arai ◽  
Shuya Hayashi
Keyword(s):  
Real Estate ◽  
Network Effects ◽  
Financial Data ◽  
Network Effect ◽  
Multiple Perspectives ◽  
Difference In Differences ◽  
The Real Estate ◽  
Indirect Network Effects ◽  
The Difference ◽  
Railroad Company

AbstractIn this paper, we examine multiple segments, conventionally analyzed from the perspective of business diversification, from multiple perspectives in a multifaceted market. Specifically, based on segmental financial data, we conduct an empirical analysis of whether increased sales in the transportation business increase the profit margin of the real estate business of a railroad company. The results show that there are two types of sidedness among many businesses. The effects of both positive and negative indirect network effects were found to exist. In addition, verification of the difference-in-differences based on the initiation event of the mutual traffic interconnection demonstrates the indirect network effect in the transportation business to a certain extent, and shows that the effect is not uniform in each business, with some businesses showing strong effects and others showing less visible effects.

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.

Confronting the Problems of Professional Sports: A Public Policy Response to Franchise Relocation and Stadium Subsidization

2005 ◽  
Vol 1 ◽  
Author(s):  
Taylor F Brinkman
Keyword(s):  
Local Community ◽  
Professional Sports ◽  
The United States ◽  
Direct Result ◽  
Sports Organizations ◽  
Sports Leagues ◽  
Sports Finance ◽  
Sports Venues ◽  
Benefits And Costs

During the past decade, forty-six professional sports venues were constructed in the United States, while only 16 expansion teams were created by the major sports leagues. Nearly two thirds of these newly built stadiums and arenas were funded with public tax revenues, despite substantial evidence showing no positive economic impact of new sports stadium construction on local communities. In reviewing the economic literature, this article investigates the role of professional sports organizations in the construction and public subsidization of new sports venues. Franchise relocation and public stadium subsidization is a direct result of the monopoly power of professional sports leagues, whose franchise owners extract large subsidies from their host communities by threatening to relocate to viable alternative locations. After explaining how the most common methods of stadium subsidization project a disproportionate allocation of the benefits and costs of hosting a professional team to local community interests, this article outlines several considerations for local policymakers who seek to reinvigorate public discussion of equity concerns in professional sports finance.

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.

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