Environmental Regulation as a Double-Edged Sword for Housing Markets PDF Download

Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Environmental Regulation as a Double-Edged Sword for Housing Markets PDF full book. Access full book title Environmental Regulation as a Double-Edged Sword for Housing Markets by Sumit Agarwal. Download full books in PDF and EPUB format.

Environmental Regulation as a Double-Edged Sword for Housing Markets

Environmental Regulation as a Double-Edged Sword for Housing Markets PDF Author: Sumit Agarwal
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

Book Description
We investigate the effects of environmental regulations on housing markets using a quasi-experiment--the NOx Budget Trading Program (NBP). Hedonic theory predicts that house prices should rise as pollution levels decrease. However, environmental regulations may also affect labor markets, and thus housing demand. Employing a difference-in-differences framework, we find that house prices shifted up in the regulated areas with low manufacturing intensity, whereas in the areas with high manufacturing intensity, housing markets were weakened. We also find that in high-manufacturing-intensity areas, loan application volume declined, rejection rate augmented, and the probability of loan default increased.
➤