Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/73847
Authors: 
Ebertz, Alexander
Year of Publication: 
2008
Series/Report no.: 
Ifo Working Paper 63
Abstract: 
Applying the hedonic approach to land prices, this paper investigates the capitalization of public services and pure amenities in a cross section of German communities. Possible spill-over effects from neighboring municipalities are explicitly included in the analysis and prove to be of considerable importance. Estimates of the impacts of local attributes on land prices are obtained taking into account the spatial structure among unobserved variables. The results confirm that differences in land prices can largely be attributed to local conditions and policies. This implies a significant degree of mobility as well as a sizeable valuation of local attributes by German households.
Subjects: 
Land Prices
Hedonic Regression
Spatial Dependence
JEL: 
C21
H73
R23
Document Type: 
Working Paper

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