Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/306480 
Year of Publication: 
2017
Citation: 
[Journal:] Journal of Urban Economics [ISSN:] 1095-9068 [Volume:] 99 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2017 [Pages:] 94-106
Publisher: 
Elsevier, Amsterdam
Abstract: 
The Fukushima Daiichi accident in Japan in March 2011 caused a fundamental change in Germany’s energy policy which led to the immediate shut down of nearly half of its nuclear power plants. Using data from Germany’s largest internet platform for real estate and employing a difference-in-differences approach, we find that Fukushima reduced housing prices near nuclear power plants that were in operation before Fukushima by 4.9%. Housing prices near sites that were shut down right after the accident even fell by 9.8%. Our results suggest that on the German housing market, the negative economic effects of the closure of nuclear power plants dominate potential positive changes in local amenities.
Subjects: 
Fukushima
Nuclear power plants
Housing prices
Germany
JEL: 
R31
Q48
Q58
Published Version’s DOI: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article
Document Version: 
Accepted Manuscript (Postprint)

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