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A Comparison of Imputation Methods under Large Samples and Different Censoring Levels (PowerPoint)
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Lopez,   Jose Antonio.
PowerPoint Presentation
Tipo: Conference Paper or Presentation
Palavras-chave: Imputation methods; Multiple imputation; Censored prices; Protein demand; Elasticities; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Research Methods/ Statistical Methods; C81; Q11; R21.
Ano: 2011
URL: http://purl.umn.edu/109894

BANDWIDTH SELECTION FOR SPATIAL HAC AND OTHER ROBUST COVARIANCE ESTIMATORS
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Lambert,   Dayton M.; Florax,   Raymond J.G.M.; Cho,   Seong-Hoon.
This research note documents estimation procedures and results for an empirical investigation of the performance of the recently developed spatial, heteroskedasticity and autocorrelation consistent (HAC) covariance estimator calibrated with different kernel bandwidths. The empirical example is concerned with a hedonic price model for residential property values. The first bandwidth approach varies an a priori determined plug-in bandwidth criterion. The second method is a data driven cross-validation approach to determine the optimal neighborhood. The third approach uses a robust semivariogram to determine the range over which residuals are spatially correlated. Inference becomes more conservative as the plug-in bandwidth is increased. The data-driven...
Tipo: Working or Discussion Paper
Palavras-chave: Spatial HAC; Semivariogram; Bandwidth; Hedonic model; Community/Rural/Urban Development; Demand and Price Analysis; Land Economics/Use; Research Methods/ Statistical Methods; C13; C31; R21.
Ano: 2008
URL: http://purl.umn.edu/44258

AMENITIES IN AN URBAN EQUILIBRIUM MODEL: RESIDENTIAL DEVELOPMENT IN PORTLAND, OREGON
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Wu,   JunJie; Adams,   Richard M.; Plantinga,   Andrew J.
This paper analyzes the effect of open space and other amenities on housing prices and development density within the framework of an urban equilibrium model.  The model is estimated as a system of equations that includes households' residential choice decisions and developers' development decisions and emphasizes the importance of amenities in the formation of development patterns and property values.  The model is applied to Portland, Oregon, where ambitious open space programs have been implemented. The results suggest that amenities are important: households are willing to pay more for newer houses located in areas of less dense development, with more open space, better views, less traffic congestion, and near amenity locations.  For the developer,...
Tipo: Conference Paper or Presentation
Palavras-chave: Community/Rural/Urban Development; R11; R21; R31.
Ano: 2003
URL: http://purl.umn.edu/21961

BANDWIDTH SELECTION FOR SPATIAL HAC AND OTHER ROBUST COVARIANCE ESTIMATORS
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Lambert,   Dayton M.; Florax,   Raymond J.G.M.; Cho,   Seong-Hoon.
This research note documents estimation procedures and results for an empirical investigation of the performance of the recently developed spatial, heteroskedasticity and autocorrelation consistent (HAC) covariance estimator calibrated with different kernel bandwidths. The empirical example is concerned with a hedonic price model for residential property values. The first bandwidth approach varies an a priori determined plug-in bandwidth criterion. The second method is a data driven cross-validation approach to determine the optimal neighborhood. The third approach uses a robust semivariogram to determine the range over which residuals are spatially correlated. Inference becomes more conservative as the plug-in bandwidth is increased. The data-driven...
Tipo: Working or Discussion Paper
Palavras-chave: Spatial HAC; Semivariogram; Bandwidth; Hedonic model; Research Methods/ Statistical Methods; C13; C31; R21.
Ano: 2008
URL: http://purl.umn.edu/45964

Living on the Edge:  Residential Property Values in the Urban-Rural Interface
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Espey,   Molly; Fakhruddin,   Fahmida; Gering,   Lawrence R.; Lin,   Huiyan.
This study estimates the contribution of both urban-rural fringe location and lake proximity on residential property values in three upstate counties of South Carolina through estimation of spatial hedonic housing price models.  Location in the urban fringe and the urban-rural interface are found to have a positive impact on residential housing values relative to either urban or more rural locations.  Lakes in the upstate contribute positively to housing values to the extent that the house has a view of a lake, lake access, or lake frontage.
Tipo: Journal Article
Palavras-chave: Environmental valuation; Hedonic analysis; Lake proximity; Rural development; Urban-rural interface; Urban sprawl; O18; R14; R21.
Ano: 2007
URL: http://purl.umn.edu/37055

The Timing of Rapid Farmland Conversion Events: Evidence from California's Differential Assessment Program
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Kovacs,   Kent F.
Using county-level panel data, we estimate duration models to study the timing of rapid farmland conversion events. Results suggest that income and the proximity to major highways are the principal determinants of rapid conversion events (and also responsible for prolonging these events). In particular, an increase in income of 1% is found to hasten the time to a rapid conversion event by 111% and to extend the time back to a slow state of conversion by 76%. On the other hand, valuable agricultural land and high property taxes extend the time to a rapid conversion event (and also hasten the time back to a slow state of conversion). An increase in the value of agricultural production per acre extends the time to a rapid conversion event by 14% and hastens...
Tipo: Journal Article
Palavras-chave: Farmland conversion; Semi-parametric duration analysis; Differential Assessment; Location and land use; Agricultural Finance; Land Economics/Use; R11; R21; R31.
Ano: 2009
URL: http://purl.umn.edu/49252

O impacto do trabalho infantil no setor agrícola sobre a saúde
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Nicolella,   Alexandre Chibebe; Kassouf,   Ana Lucia; Barros,   Alexandre Lahóz Mendonça de.
The aim of this dissertation is to identify the causal relation between rural child labour and health. The analysis utilized the PNAD, a Brazilian household survey, from 1998 and 2003. The econometric modeling was based on the pseudo-panel approach and was considered the children from 5 to 15 years old in 1998 and from 10 to 20 years old in 2003. The results show that work and work in risky jobs in the agricultural sector do not differ from those impacts of other sectors. It was also presented, for all individuals that work in the agricultural sector does not impact the health capital and work in the non rural sector impact negatively the health capital. So, the government intervention in rural areas should be different from the one implemented on the...
Tipo: Journal Article
Palavras-chave: Child labor; Health; Pseudo-panel; Agribusiness; I12; R21; C23.
Ano: 2008
URL: http://purl.umn.edu/61231

Determinants of Returns in Rural Tourism
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Murova,   Olga I.; Hanagriff,   Roger D.
The goal of this study, based on data collected through community surveys and visitors’ surveys, is to determine and analyze factors impacting returns from rural tourism. Our first model shows that age of event, median family income, and hired labor have a significant impact on the revenues collected from tourism events. Furthermore, it shows brochures and flyers to be the most effective form of advertisement. The second multivariate regression model proves that traveling greater distances, staying overnight at a hotel, and plans for visiting surrounding areas contribute positively and significantly to higher individual expenditures by tourists.
Tipo: Journal Article
Palavras-chave: Advertising; Rural development; Tourism; Community/Rural/Urban Development; R11; R21.
Ano: 2011
URL: http://purl.umn.edu/113535

Regulatory Takings and the Diminution of Value: An Empirical Analysis of Takings and Givings
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Truesdell,   Marie K.; Bergstrom,   John C.; Dorfman,   Jeffrey H.
A hedonic model is used to measure the change in value of residential lots in Rockport, Texas, resulting from Section 404 of the U.S. Clean Water Act. Results show that average lot values initially decreased, went though a six-year adjustment period, and then stabilized on a higher price path resulting in a positive net effect on average lot values throughout the Rockport area (with the exception of a particular subdivision). The results indicate that Section 404 generated both regulatory "takings" and "givings," suggesting that both effects should be considered when assessing the benefits and costs of regulatory events and compensation claims.
Tipo: Journal Article
Palavras-chave: Clean Water Act Section 404; Hedonic price method; Interrupted time series; Regulatory takings and givings; Wetlands; Agricultural and Food Policy; C51; D61; R11; R21; Q15.
Ano: 2006
URL: http://purl.umn.edu/43791

Does Close Count? School Proximity, School Quality, and Residential Property Values
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Owusu-Edusei,   Kwame; Espey,   Molly; Lin,   Huiyan.
This study jointly estimates the impact of school quality and school proximity on residential property values in Greenville, South Carolina. While quality is found to be capitalized into residential property values, the degree of capitalization depends on school level and proximity to each school for which the house is zoned for attendance. In general, there is positive value associated with closer proximity to schools of all levels, and negative value associated with a significantly longer than average distance to schools. In terms of quality rankings, excellence at the elementary and high school levels has the strongest impact on property values.
Tipo: Journal Article
Palavras-chave: Hedonics; Park proximity; School proximity; School quality; Land Economics/Use; I21; O18; R21.
Ano: 2007
URL: http://purl.umn.edu/6609

A Unified Framework for Measuring Preferences for Schools and Neighborhoods
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Bayer,   Patrick; Ferreira,   Fernando; McMillan,   Robert.
This paper sets out a framework for estimating household preferences over a broad range of housing and neighborhood characteristics, some of which are determined by the way that households sort in the housing market. This framework brings together the treatment of heterogeneity and selection that has been the focus of the traditional discrete choice literature with a clear strategy for dealing with the correlation of unobserved neighborhood quality with both school quality and neighborhood sociodemographics. We estimate the model using rich data on a large metropolitan area, drawn from a restricted version of the Census. The estimates indicate that, on average, households are willing to pay an additional one percent in house prices - substantially lower...
Tipo: Working or Discussion Paper
Palavras-chave: Capitalization; Local public goods; School quality; Discrete choice models; Hedonic price regression; Education demand; Labor and Human Capital; D58; H0; H4; H7; I2; R21; R31.
Ano: 2003
URL: http://purl.umn.edu/28513

Food Calorie Intake and Food Security under Grain Price Inflation: Evidence from Malawi
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Pan,   Suwen; Fang,   Cheng; Sanogo,   Issa; Mutuc,   Maria Erlinda M.
A comprehensive analysis of food demand and nutrient consumption using recent, representative household survey data from Malawi is presented. Expenditure and price elasticities have been estimated for 20 food groups using a quadratic almost ideal demand system based on 4 income groups identified by the Goldfeld-Quandt tests. Although the current boom of maize price provides an opportunity to rethink development strategies that diversify the commodity sectors, developing countries will not necessarily benefit from this change absent significant improvements in production capacities and trade infrastructures. Malawi is likely to suffer from higher commodity prices in the short-run.
Tipo: Conference Paper or Presentation
Palavras-chave: Goldfeld-Quandt tests; A quadratic almost ideal demand system; Malawi; Agricultural and Food Policy; Consumer/Household Economics; Food Security and Poverty; D12; O13; R21; R31; Q11; Q12.
Ano: 2011
URL: http://purl.umn.edu/103266

Toward a Consumer Economy in China: Implications of Changing Wage Policies for U.S. Cotton Exports
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: MacDonald,   Stephen; Pan,   Suwen; Hudson,   Darren; Tuan,   Francis C.
The effect of a Chinese minimum wage increase on China’s textile market as well as on the world cotton market is evaluated. Based on a Nonlinear Quadratic Almost Ideal Demand System (NQAIDS) model of China’s textile demand, the results suggest that the income elasticity for textiles is around 0.6 in China, and that apparel is less price responsive than home textiles and other textile products.  Simulation results suggest that a minimum wage increase would raise Chinese domestic textile consumption and lower Chinese textile exports. Most of the decline in textile exports by China is offset by expansion in other countries’ domestic textile production and results in a slight increase in world cotton mill utilization and higher clothing prices.
Tipo: Conference Paper or Presentation
Palavras-chave: Nonlinear Quadratic Almost Ideal Demand System (NQAIDS); Cotton; Clothing; China; Trade; Industrial policy; Demand and Price Analysis; International Development; International Relations/Trade; Q17; Q18; R34; R21.
Ano: 2011
URL: http://purl.umn.edu/103615

Two Dimensions of the Spatial Distribution of Housing:  Dependency and Heterogeneity across Tennessee’s Six Metropolitan Statistical Areas
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Cho,   Seong-Hoon; Clark,   Christopher D.; Park,   William M.
A two-stage multinomial logit selection model is used to model the relationship between demographic characteristics and housing density across Tennessee’s six metropolitan statistical areas.  The study finds that there is both spatial correlation and heterogeneity in the most densely populated area, has the least amount of spatial correlation among housing density at the neighborhood level, while Johnson City, which has the lowest overall housing density, has the highest degree of spatial correlation.
Tipo: Journal Article
Palavras-chave: Community; Housing density; Spatial dependency; Spatial heterogeneity; Community/Rural/Urban Development; C31; R21.
Ano: 2006
URL: http://purl.umn.edu/43763

Meta Analysis in Model Implementation: Choice Sets and the Valuation of Air Quality Improvements
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Banzhaf,   H. Spencer; Smith,   V. Kerry.
We document the sensitivity of welfare estimates derived from discrete choice models to assumptions about the choice set. Such assumptions can affect welfare estimates through both the estimated parameters of the model and, conditional on the parameters, the substitution among alternatives. Our analysis involves estimates of the benefits of air quality improvements in Los Angeles based on discrete choices of neighborhood and housing. We further illustrate the use of meta analysis to document and summarize voluminous information derived from repeated sensitivity analyses.
Tipo: Working or Discussion Paper
Palavras-chave: Meta analysis; Random utility model; Choice set; Air quality; Housing; Environmental Economics and Policy; C15; Q25; R21.
Ano: 2003
URL: http://purl.umn.edu/10453

The Impact of Shale Exploration on Housing Values in Pennsylvania
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Klaiber,   H. Allen; Gopalakrishnan,   Sathya.
Horizontal drilling and hydraulic fracturing processes to extract shale gas have raised concerns among local residents over the safety of these new drilling techniques.  To assess whether potential negative externalities associated with shale gas exploration are capitalized into surrounding homeowners property values, we estimate a hedonic model combining data on 3,464 housing sales occurring between 2008 and 2010 in a suburban/rural county south of Pittsburgh, PA which experienced large numbers of new horizontal Marcellus wells beginning in late 2008. Using hedonic methods, we find a negative and significant impact to households in close proximity both spatially and temporally to this activity.  Further we find that this negative impact disproportionately...
Tipo: Presentation
Palavras-chave: Shale gas; Housing values; Risk perceptions; Hedonic; Environmental Economics and Policy; Land Economics/Use; Resource /Energy Economics and Policy; Q51; Q52; R21.
Ano: 2012
URL: http://purl.umn.edu/124368

Does the Food Stamp Program Affect Food Security Status and the Composition of  Food Expenditures?
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Pan,   Suwen; Jensen,   Helen H.
This article considers interaction among participation in the Food Stamp Program (FSP), food security status, and the composition of food expenditures. A quadratic almost ideal demand system with a bootstrapping two-step method of estimation is applied to data from the Current Population Survey–Food Security Supplement data and used to estimate the model and account for endogeneity between the FSP participation and food insecurity. The results show that FSP participation is endogenously related with food security status and significantly affects total food expenditure and food-away-from-home expenditures.
Tipo: Journal Article
Palavras-chave: Food away from home; Food insecurity; Food stamps; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; Q18; R21; I32.
Ano: 2008
URL: http://purl.umn.edu/45043

Hedonic Housing Prices and Agricultural Pollution: An Empirical Investigation on Semiparametric Models
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Bontemps,   Christophe; Simioni,   Michel; Surry,   Yves R.
The objective of this paper is to assess the impact on property values of agricultural pollution using alternative semiparametric hedonic price models.  The proposed model specifications are made up of two parts: a partially linear component for house characteristics and a non (semi) parametric form to represent the non linear influence of agricultural pollution.  A general-to-specific search procedure is adopted to select the best model specification.  An application of theses parametric models to rural townships indicates that pollution resulting on livestock operations have a significant nonlinear impact on house prices.
Tipo: Conference Paper or Presentation
Palavras-chave: Hedonic pricing; Semiparametric models; Agricultural pollution; Environmental Economics and Policy; Land Economics/Use; C14; R21; R32; Q0.
Ano: 2005
URL: http://purl.umn.edu/24709

Evidence on the Amenity Value of Wetlands in a Rural Setting
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Bin,   Okmyung; Polasky,   Stephen.
This study uses a hedonic property price method to estimate how wetlands affect residential property values in a rural area. The study utilizes wetland inventory data coupled with extensive property sales records between January 2000 and September 2004 from Carteret County, NC. Our results indicate that i) a higher wetland percentage within a quarter mile of a property, ii) closer proximity to the nearest wetland, and iii) larger size of the nearest wetland are associated with lower residential property values. These results contrast with previous hedonic studies that use data from urban areas, which found positive associations between wetland and property values. The amenity value of wetlands appears to depend at least as much on the characteristics of...
Tipo: Journal Article
Palavras-chave: Hedonic prices; Housing market; Rural area; Wetlands; D12; Q24; Q26; R21.
Ano: 2005
URL: http://purl.umn.edu/42789

Disentangling Access and View Amenities in Access-Restricted Coastal Residential Communities
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Morgan,   O. Ashton; Hamilton,   Stuart E.
In coastal communities with uniform flood risk, amenity value is comprised of two components – view and access. Having controlled for view, it is assumed that any residual amenity value represents the benefit derived from accessing the beach for leisure/recreational purposes. However, as properties closer to the beach typically have improved viewsheds, the two amenities are highly correlated, and disentangling view and access is problematical. A spatial autoregressive hedonic model captures ease of beach access via a network distance parameter that varies independently from property viewshed, collinearity effects are mitigated, and access and view can be disentangled.
Tipo: Journal Article
Palavras-chave: Beach access; Property viewshed; Spatial hedonic model; Willingness to pay; Environmental Economics and Policy; Land Economics/Use; Q51; R12; R21; R23.
Ano: 2011
URL: http://purl.umn.edu/104620

Forecasting Housing Prices under Different Submarket Assumptions
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Chen,   Zhuo; Cho,   Seong-Hoon; Poudyal,   Neelam C.; Roberts,   Roland K.
This research evaluated forecasting accuracy of hedonic price models based on a number of different submarket assumptions. Using home sale data for the City of Knoxville and vicinities merged with geographic information, we found that forecasting housing prices with submarkets defined using expert knowledge and by school district and combining information conveyed in different modeling strategies are more accurate and efficient than models that are spatially aggregated, or with submarkets defined by statistical clustering techniques. This finding provided useful implications for housing price prediction in an urban setting and surrounding areas in that forecasting models based on expert knowledge of market structure or public school quality and simple...
Tipo: Conference Paper or Presentation
Palavras-chave: Clustering; Forecasting; Hedonic price; Housing Submarket; Demand and Price Analysis; C53; R21.
Ano: 2007
URL: http://purl.umn.edu/9689

Equilibrium Welfare Impacts of the 1990 Clean Air Act Amendments in the Los Angeles Area
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Tra,   Constant I.
This study develops a discrete choice locational equilibrium model to evaluate the benefits of the air quality improvements that occurred in the Los Angeles area following the 1990 Clean Air Act Amendments (CAAA). The discrete choice equilibrium approach accounts for the fact that air quality improvements brought about by the 1990 CAAA will change housing choices and prices. The study provides the first application of the discrete choice equilibrium framework (Anas, 1980, Bayer et al., 2005) to the valuation of large environmental changes. The study also provides new evidence for the distributional welfare impacts of the 1990 CAAA in the Los Angeles area. Households’ location choices are modeled according to the random utility framework of McFadden (1973)...
Tipo: Working or Discussion Paper
Palavras-chave: Benefit analysis; Ozone improvement; Locational equilibrium; Discrete choice; Environmental Economics and Policy; H0; Q28; R13; R21.
Ano: 2007
URL: http://purl.umn.edu/7341

REGIONAL HOUSING PRICE CYCLES: A SPATIO-TEMPORAL ANALYSIS USING US STATE LEVEL DATA
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Kuethe,   Todd H.; Pede,   Valerien O.
We present a study of the effects of macroeconomic shocks on housing prices in the Western United States using quarterly state level data from 1988:1 – 2007:4. The study contributes to the existing literature by explicitly incorporating locational spillovers through a spatial econometric adaptation of vector autoregression (SpVAR). The results suggest these spillovers may Granger cause housing price movements in a large number of cases. SpVAR provides additional insights through impulse response functions that demonstrate the effects of macroeconomic events in different neighboring locations. In addition, we demonstrate that including spatial information leads to significantly lower mean square forecast errors.
Tipo: Working or Discussion Paper
Palavras-chave: Housing prices; VAR; Spatial econometrics; Community/Rural/Urban Development; Research Methods/ Statistical Methods; C31; C32; R21.
Ano: 2009
URL: http://purl.umn.edu/47596

Making Markets for Development Rights Work: What Determines Demand?
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Kopits,   Elizabeth; McConnell,   Virginia D.; Walls,   Margaret.
Many economists see current land use patterns as inefficient due to various market failures, and planners argue that current patterns do not follow sound planning practice. One policy of interest to both groups is transferable development rights (TDR). TDRs allow the development rights from land that is preserved in an undeveloped state to be transferred to other areas where development can be made denser. This paper addresses one of the greatest difficulties TDR programs face-insufficient demand. We develop a simple theoretical model and estimate a TDR demand function using data from Calvert County, Maryland, one of the only regions where data on individual sales are available. We find that baseline zoning is a critical determinant of TDR demand- demand...
Tipo: Working or Discussion Paper
Palavras-chave: TDRs; Density; Zoning; Subdivisions; International Development; R14; R52; R21.
Ano: 2005
URL: http://purl.umn.edu/10880