Julie Mueller, John Loomis, Armando González-Cabán
Unlike most hedonic studies that analyze the effects of a one-time event, this
paper analyzes the effects of forest fires that are several years apart in a
small geographical area. We find that repeated forest fires cause house prices
to decrease for houses located near the fires. We test and reject the hypothesis
that the house price reduction from one fire is equal to the house price
reduction f... hiện toàn bộ
This article provides a method for estimating housing indices at the local
level. It develops a ““distance-weighted repeat-sales”” procedure to exploit the
factor structure of the error-covariance matrix in the repeat-sales model. A
distance function defined in characteristic and geographical space provides
weights for the generalized least-squares model, and allows the use of all of
the repeated ... hiện toàn bộ