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dc.contributor.authorDeSilva, Sanjayaen_US
dc.contributor.authorPham, Anhen_US
dc.contributor.authorSmith, Michaelen_US
dc.date.accessioned2012-04-12T14:22:25Z-
dc.date.available2012-04-12T14:22:25Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/57067-
dc.description.abstractThis paper use spatial econometric models to test for racial preferences in a small urban housing market. Identifying racial preferences is difficult when unobserved neighborhood amenities vary systematically with racial composition. We adopt three strategies to redress this problem: (1) we focus on housing price differences across microneighborhoods in the small and relatively homogenous city of Kingston, New York; (2) we introduce GIS-based spatial amenity variables as controls in the hedonic regressions; and (3) we use spatial error and lag models to explicitly account for the spatial dependence of unobserved neighborhood amenities. Our simple OLS estimates agree with the consensus in the literature that black neighborhoods have lower housing prices. However, racial price discounts are no longer significant when we account for the spatial dependence of errors. Our results suggest that price discounts in black neighborhoods are caused not by racial preferences but by the demand for amenities that are typically not found in black neighborhoods.en_US
dc.language.isoengen_US
dc.publisherLevy Economics Inst. Annandale-on-Hudson, NYen_US
dc.relation.ispartofseriesWorking paper, Levy Economics Institute 599en_US
dc.subject.jelJ15en_US
dc.subject.jelR21en_US
dc.subject.ddc330en_US
dc.subject.keywordhousingen_US
dc.subject.keywordraceen_US
dc.subject.keywordneighborhood amenitiesen_US
dc.subject.keywordspatial econometricsen_US
dc.titleRacial preferences in a small urban housing market: A spatial econometric analysis of microneighborhoods in Kingston, New Yorken_US
dc.typeWorking Paperen_US
dc.identifier.ppn629694133en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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