SABIIA - Sistema Aberto e Integrado de Informação em Agricultura (Sabiia)

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...

The Timing of Rapid Farmland Conversion Events: Evidence from California's Differential Assessment Program

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

Determinants of Returns in Rural Tourism

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

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

The Impact of Shale Exploration on Housing Values in Pennsylvania

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

Toward a Consumer Economy in China: Implications of Changing Wage Policies for U.S. Cotton Exports

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.

Meta Analysis in Model Implementation: Choice Sets and the Valuation of Air Quality Improvements

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

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.

Living on the Edge: Residential Property Values in the Urban-Rural Interface

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

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

Evidence on the Amenity Value of Wetlands in a Rural Setting

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

AMENITIES IN AN URBAN EQUILIBRIUM MODEL: RESIDENTIAL DEVELOPMENT IN PORTLAND, OREGON

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,...

REGIONAL HOUSING PRICE CYCLES: A SPATIO-TEMPORAL ANALYSIS USING US STATE LEVEL DATA

Palavras-chave: Community/Rural/Urban Development; R11; R21; R31.

Ano: 2003

URL: http://purl.umn.edu/21961

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.

Making Markets for Development Rights Work: What Determines Demand?

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

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...

Equilibrium Welfare Impacts of the 1990 Clean Air Act Amendments in the Los Angeles Area

Palavras-chave: TDRs; Density; Zoning; Subdivisions; International Development; R14; R52; R21.

Ano: 2005

URL: http://purl.umn.edu/10880

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)...

BANDWIDTH SELECTION FOR SPATIAL HAC AND OTHER ROBUST COVARIANCE ESTIMATORS

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

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...

BANDWIDTH SELECTION FOR SPATIAL HAC AND OTHER ROBUST COVARIANCE ESTIMATORS

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

Lambert, Dayton M.; Florax, Raymond J.G.M.; Cho, Seong-Hoon.

Does Close Count? School Proximity, School Quality, and Residential Property Values

Palavras-chave: Spatial HAC; Semivariogram; Bandwidth; Hedonic model; Research Methods/ Statistical Methods; C13; C31; R21.

Ano: 2008

URL: http://purl.umn.edu/45964

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 Comparison of Imputation Methods under Large Samples and Different Censoring Levels (PowerPoint)

Lopez, Jose Antonio.

PowerPoint Presentation

Food Calorie Intake and Food Security under Grain Price Inflation: Evidence from Malawi

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

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.

Regulatory Takings and the Diminution of Value: An Empirical Analysis of Takings and Givings

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

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

Hedonic Housing Prices and Agricultural Pollution: An Empirical Investigation on Semiparametric Models

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.

Does the Food Stamp Program Affect Food Security Status and the Composition of Food Expenditures?

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