Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/203583
Authors: 
Kussel, Gerhard
Frondel, Manuel
Vance, Colin
Sommer, Stephan
Year of Publication: 
2019
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2019: 30 Jahre Mauerfall - Demokratie und Marktwirtschaft - Session: Environmental Economics I No. A15-V1
Abstract: 
Given the rapid expansion of wind power capacities in Germany, this paper estimates the effects of wind turbines on house prices using real estate price data from Germany's leading online broker. Employing a hedonic price model whose specification is informed by machine learning techniques, our methodological approach provides insights into the sources of heterogeneity in treatment effects. We estimate an average treatment effect (ATE) of up to -7.1% for houses within a one-kilometer radius of a wind turbine, an effect that fades to zero at a distance of 8 to 9 km. Old houses and those in rural areas are affected the most, while home prices in urban areas are hardly affected. These results highlight that substantial local externalities are associated with wind power plants.
Subjects: 
Wind power
hedonic price model
JEL: 
Q21
D12
R31
Document Type: 
Conference Paper

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