Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/185901
Authors: 
Salvi, Marco
Year of Publication: 
2008
Citation: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 144 [Year:] 2008 [Issue:] 4 [Pages:] 577-606
Abstract: 
The paper applies spatial econometric techniques to measure the impact of airport noise on the price of single-family homes in the Zurich Airport area. We exploit a large database of geo-referenced noise measurements to investigate the reaction of prices to different noise metrics. The particular institutional setting of Zurich Airport, with changing patterns of runways configurations allows to distinguish the impact of noise at different times of the day. The use of neighborhood fixedeffects is compared to the results given by a costlier modelling strategy involving a rich set of location descriptors. The paper documents the impact of airport noise on housing prices. In the base model specification the Noise Discount Index is 0.97% with typical discounts in the range of -2% to -8%. Accounting for the spatiality of the data has little effect on the results.
Subjects: 
noise
airports
housing prices
hedonic pricing
spatial econometrics
JEL: 
Q53
Q51
R31
L93
C21
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Article

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