Pub Date : 2025-07-04DOI: 10.1016/j.regsciurbeco.2025.104134
Zhilong Qin , Xiaoguang Chen , Luoye Chen
We quantify the air quality impact of China's first major HSR line connecting Beijing and Shanghai, operational since June 30, 2011. Using high-resolution satellite data, we find a 6.2 % reduction in particulate matter concentrations in counties served by the HSR during the six months following its opening, with effects strengthening over time and persisting for at least two years. These improvements are larger in counties with HSR stations, high interregional travel demand, or limited alternative transportation options. We estimate that the HSR opening yields external health benefits of approximately CNY 21 billion annually, accounting for a substantial portion of its construction costs.
{"title":"High-speed rail opening and urban air quality","authors":"Zhilong Qin , Xiaoguang Chen , Luoye Chen","doi":"10.1016/j.regsciurbeco.2025.104134","DOIUrl":"10.1016/j.regsciurbeco.2025.104134","url":null,"abstract":"<div><div>We quantify the air quality impact of China's first major HSR line connecting Beijing and Shanghai, operational since June 30, 2011. Using high-resolution satellite data, we find a 6.2 % reduction in particulate matter concentrations in counties served by the HSR during the six months following its opening, with effects strengthening over time and persisting for at least two years. These improvements are larger in counties with HSR stations, high interregional travel demand, or limited alternative transportation options. We estimate that the HSR opening yields external health benefits of approximately CNY 21 billion annually, accounting for a substantial portion of its construction costs.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"114 ","pages":"Article 104134"},"PeriodicalIF":3.5,"publicationDate":"2025-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144597466","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-07-01DOI: 10.1016/j.regsciurbeco.2025.104126
Daniele Coen-Pirani
This paper examines how mobility costs influence the effectiveness and desirability of tax progressivity using a general equilibrium spatial model. A key feature of the model is that workers’ idiosyncratic productivity depends on location. The interaction of amenities, idiosyncratic shocks and moving costs implies that progressive taxation distorts location choices by reducing incentives for agents to relocate to their most productive areas. Using a quantitative framework, I find that the negative effect of tax progressivity on output is weakest when mobility costs are either relatively low or high. The optimal degree of tax progressivity balances the costs of spatial tax distortions against the benefits of enhanced insurance, leading to relatively high optimal progressivity at both extremes of mobility costs.
{"title":"Tax progressivity and mobility costs","authors":"Daniele Coen-Pirani","doi":"10.1016/j.regsciurbeco.2025.104126","DOIUrl":"10.1016/j.regsciurbeco.2025.104126","url":null,"abstract":"<div><div>This paper examines how mobility costs influence the effectiveness and desirability of tax progressivity using a general equilibrium spatial model. A key feature of the model is that workers’ idiosyncratic productivity depends on location. The interaction of amenities, idiosyncratic shocks and moving costs implies that progressive taxation distorts location choices by reducing incentives for agents to relocate to their most productive areas. Using a quantitative framework, I find that the negative effect of tax progressivity on output is weakest when mobility costs are either relatively low or high. The optimal degree of tax progressivity balances the costs of spatial tax distortions against the benefits of enhanced insurance, leading to relatively high optimal progressivity at both extremes of mobility costs.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"114 ","pages":"Article 104126"},"PeriodicalIF":3.5,"publicationDate":"2025-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144587750","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-06-27DOI: 10.1016/j.regsciurbeco.2025.104131
Jan Rouwendal , Or Levkovich , Edwin Buitelaar , Jip Claassens
This paper demonstrates that the prices of older commercial buildings increase relative to younger ones. We argue that this is a ‘vintage effect’ that is due to the increasing valuation of older buildings by their marginal occupant in an expanding market. We show that this effect is not due to local price trends, or listing or preservation zones. Furthermore, it is not confined to urban locations or buildings visible from main roads, and it is most pronounced for buildings constructed before 1960. Repeat sales analysis confirms the results of hedonic regressions. Further analysis of the office market, for which the vintage effect is strongest, confirms that survival probabilities and occupancy rates are highest for older buildings. These findings suggest that commercial buildings have a longer lifespan than is often thought, making the built environment less dynamic.
{"title":"Vintage effects in commercial real estate and the dynamics of the built environment","authors":"Jan Rouwendal , Or Levkovich , Edwin Buitelaar , Jip Claassens","doi":"10.1016/j.regsciurbeco.2025.104131","DOIUrl":"10.1016/j.regsciurbeco.2025.104131","url":null,"abstract":"<div><div>This paper demonstrates that the prices of older commercial buildings increase relative to younger ones. We argue that this is a ‘vintage effect’ that is due to the increasing valuation of older buildings by their marginal occupant in an expanding market. We show that this effect is not due to local price trends, or listing or preservation zones. Furthermore, it is not confined to urban locations or buildings visible from main roads, and it is most pronounced for buildings constructed before 1960. Repeat sales analysis confirms the results of hedonic regressions. Further analysis of the office market, for which the vintage effect is strongest, confirms that survival probabilities and occupancy rates are highest for older buildings. These findings suggest that commercial buildings have a longer lifespan than is often thought, making the built environment less dynamic.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"114 ","pages":"Article 104131"},"PeriodicalIF":3.5,"publicationDate":"2025-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144654103","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-06-26DOI: 10.1016/j.regsciurbeco.2025.104130
Niels M. Kuiper , Mark van Duijn , Arno J. van der Vlist
We study the local labor market effects of a place-based policy aimed at the preservation and economic re-use of urban built heritage in the Netherlands. We use establishment-level labor market data and a difference-in-differences approach to identify both direct and spillover effects of these redevelopment projects on local labor markets. Our findings show that these projects tend to follow, and at times reinforce, processes of neighborhood change, targeting areas already experiencing relative labor market decline and shifts in the industry mix. While we do not find that these projects reverse or halt decline through local spillover effects, we do find clear direct effects: the projects attract jobs and firms to the redevelopment sites in numbers that outweigh the ongoing negative labor market trends, pointing to a distinct and positive local economic impact.
{"title":"Do urban redevelopment projects attract jobs? Evidence from the Dutch National Restoration Fund","authors":"Niels M. Kuiper , Mark van Duijn , Arno J. van der Vlist","doi":"10.1016/j.regsciurbeco.2025.104130","DOIUrl":"10.1016/j.regsciurbeco.2025.104130","url":null,"abstract":"<div><div>We study the local labor market effects of a place-based policy aimed at the preservation and economic re-use of urban built heritage in the Netherlands. We use establishment-level labor market data and a difference-in-differences approach to identify both direct and spillover effects of these redevelopment projects on local labor markets. Our findings show that these projects tend to follow, and at times reinforce, processes of neighborhood change, targeting areas already experiencing relative labor market decline and shifts in the industry mix. While we do not find that these projects reverse or halt decline through local spillover effects, we do find clear direct effects: the projects attract jobs and firms to the redevelopment sites in numbers that outweigh the ongoing negative labor market trends, pointing to a distinct and positive local economic impact.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"114 ","pages":"Article 104130"},"PeriodicalIF":3.5,"publicationDate":"2025-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144686769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-06-25DOI: 10.1016/j.regsciurbeco.2025.104128
Camilo Acosta , Ditte Håkonsson Lyngemark
This paper studies the spatial organization of firms, both theoretically and empirically. Two new facts in Danish register data motivate the analysis: (i) firms have become increasingly spatially fragmented, and (ii) headquarters (HQ) establishments have become more manager-intensive. We develop and estimate a structural model in which firms allocate labor across establishments and produce non-rival, manager-intensive HQ services. Identification relies on exogenous variation in labor supply induced by commuting-augmented immigration shocks. We estimate elasticities of substitution across establishments of −9.8 for workers and −1.1 for managers, consistent with firms reallocating general labor more easily than managerial inputs. Our decomposition shows that rising managerial wages at HQs – interacted with firm-level scale effects – explain about half of the observed increase in HQ managerial intensity, highlighting the importance of intangible internal inputs in shaping firm spatial structure.
{"title":"Spatial wage differentials, geographic frictions and the organization of labor within firms","authors":"Camilo Acosta , Ditte Håkonsson Lyngemark","doi":"10.1016/j.regsciurbeco.2025.104128","DOIUrl":"10.1016/j.regsciurbeco.2025.104128","url":null,"abstract":"<div><div>This paper studies the spatial organization of firms, both theoretically and empirically. Two new facts in Danish register data motivate the analysis: (i) firms have become increasingly spatially fragmented, and (ii) headquarters (HQ) establishments have become more manager-intensive. We develop and estimate a structural model in which firms allocate labor across establishments and produce non-rival, manager-intensive HQ services. Identification relies on exogenous variation in labor supply induced by commuting-augmented immigration shocks. We estimate elasticities of substitution across establishments of −9.8 for workers and −1.1 for managers, consistent with firms reallocating general labor more easily than managerial inputs. Our decomposition shows that rising managerial wages at HQs – interacted with firm-level scale effects – explain about half of the observed increase in HQ managerial intensity, highlighting the importance of intangible internal inputs in shaping firm spatial structure.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"114 ","pages":"Article 104128"},"PeriodicalIF":3.5,"publicationDate":"2025-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144501007","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-06-18DOI: 10.1016/j.regsciurbeco.2025.104129
Brent W. Ambrose , Maxence Valentin
This study examines the connection between federal tax policies and the capitalization of local public goods into housing prices, focusing on the deduction of State and Local Taxes (SALT). In the United States, taxpayers can deduct taxes paid to local jurisdictions from their federal taxable incomes, effectively reducing the net cost of local public goods. We develop a theoretical model of local public goods capitalization that predicts a higher capitalization of public goods in jurisdictions with a greater share of residents who deduct local taxes. We test this prediction by exploiting local exposure to national fiscal changes from the 2017 Tax Cuts and Jobs Act (TCJA) in a shift-share instrumental variable framework. Using school district spending, we find empirical support that a higher share of residents deducting property taxes causes a greater capitalization of local public spending. In particular, a one-standard-deviation increase in school spending corresponds to a 1.2% decrease in house value in school districts where no resident deducts property taxes but to a 2.8% rise in values in districts where 25% of the residents take advantage of the property tax deduction. Our results thus emphasize the importance of the interaction between local and national policies when evaluating the optimal level of local public good provision, and provide guidance for evaluating the future of the SALT deductions.
{"title":"Federal tax policy and the capitalization of local public goods","authors":"Brent W. Ambrose , Maxence Valentin","doi":"10.1016/j.regsciurbeco.2025.104129","DOIUrl":"10.1016/j.regsciurbeco.2025.104129","url":null,"abstract":"<div><div>This study examines the connection between federal tax policies and the capitalization of local public goods into housing prices, focusing on the deduction of State and Local Taxes (SALT). In the United States, taxpayers can deduct taxes paid to local jurisdictions from their federal taxable incomes, effectively reducing the net cost of local public goods. We develop a theoretical model of local public goods capitalization that predicts a higher capitalization of public goods in jurisdictions with a greater share of residents who deduct local taxes. We test this prediction by exploiting local exposure to national fiscal changes from the 2017 Tax Cuts and Jobs Act (TCJA) in a shift-share instrumental variable framework. Using school district spending, we find empirical support that a higher share of residents deducting property taxes causes a greater capitalization of local public spending. In particular, a one-standard-deviation increase in school spending corresponds to a 1.2% decrease in house value in school districts where no resident deducts property taxes but to a 2.8% rise in values in districts where 25% of the residents take advantage of the property tax deduction. Our results thus emphasize the importance of the interaction between local and national policies when evaluating the optimal level of local public good provision, and provide guidance for evaluating the future of the SALT deductions.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"114 ","pages":"Article 104129"},"PeriodicalIF":3.5,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144329773","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-04-26DOI: 10.1016/j.regsciurbeco.2025.104105
Curtis J. Simon
Kremer (1993) proposed that complementarity between highly skilled workers who are employed in firms with complex production processes would motivate both the firms and the workers they employ to colocate geographically, but thus far empirical work has focused on complementarity at the firm and industry level. This paper uses Census and American Community Survey data between 1960 and 2020 on 561 cities to present new evidence on high-skill complementarity among college-educated workers at and below the city level. The findings include: (1) More complex occupations and industries employ higher college shares; (2) Cities with higher overall college shares employ higher college shares within an industry or occupation; (3) More complex industries and occupations tend to exhibit larger gradients of college share with respect to city college share; (4) Cities with higher college shares tend to house more complex mixes of industries and occupations; (5) Below the city level, (a) college share in an industry tends to be higher, the higher the college share in industries up- and downstream; (b) college share in an occupation tends to be higher, the higher the college share in the remainder of the industry; and (6) More complex industries and occupations tend to exhibit larger (sub-city) gradients. Finally, analysis of college wages supports the hypothesis that productivity-related factors are at work.
{"title":"Complexity and colocation of the college-educated: Sort of complements","authors":"Curtis J. Simon","doi":"10.1016/j.regsciurbeco.2025.104105","DOIUrl":"10.1016/j.regsciurbeco.2025.104105","url":null,"abstract":"<div><div>Kremer (1993) proposed that complementarity between highly skilled workers who are employed in firms with complex production processes would motivate both the firms and the workers they employ to colocate geographically, but thus far empirical work has focused on complementarity at the firm and industry level. This paper uses Census and American Community Survey data between 1960 and 2020 on 561 cities to present new evidence on high-skill complementarity among college-educated workers at and below the city level. The findings include: (1) More complex occupations and industries employ higher college shares; (2) Cities with higher overall college shares employ higher college shares within an industry or occupation; (3) More complex industries and occupations tend to exhibit larger gradients of college share with respect to city college share; (4) Cities with higher college shares tend to house more complex mixes of industries and occupations; (5) Below the city level, (a) college share in an industry tends to be higher, the higher the college share in industries up- and downstream; (b) college share in an occupation tends to be higher, the higher the college share in the remainder of the industry; and (6) More complex industries and occupations tend to exhibit larger (sub-city) gradients. Finally, analysis of college wages supports the hypothesis that productivity-related factors are at work.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"113 ","pages":"Article 104105"},"PeriodicalIF":3.5,"publicationDate":"2025-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143912238","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-04-13DOI: 10.1016/j.regsciurbeco.2025.104107
Daniel Garcia, Raven Molloy
Of all major industries, construction is the only one to have registered negative average productivity growth since 1987. Mechanically, this lackluster performance owes to the fact that indexes measuring the cost of building a constant-quality structure have risen much faster than those measuring the cost of producing other goods. We assess the extent to which growth in construction costs could be biased upward by improvements in unobserved structure quality. Even under generous assumptions, our estimates of the magnitude of this bias are not large enough to alter the view that construction-sector productivity growth has been weak. Next, we calculate new estimates of single-family residential construction productivity growth by state and metropolitan area from 1980 to 2019. These estimates reveal that productivity has declined the most in areas with a larger fraction of construction in the urban core and with tighter housing supply constraints, especially in locations with long permitting times.
{"title":"Reexamining lackluster productivity growth in construction","authors":"Daniel Garcia, Raven Molloy","doi":"10.1016/j.regsciurbeco.2025.104107","DOIUrl":"10.1016/j.regsciurbeco.2025.104107","url":null,"abstract":"<div><div>Of all major industries, construction is the only one to have registered negative average productivity growth since 1987. Mechanically, this lackluster performance owes to the fact that indexes measuring the cost of building a constant-quality structure have risen much faster than those measuring the cost of producing other goods. We assess the extent to which growth in construction costs could be biased upward by improvements in unobserved structure quality. Even under generous assumptions, our estimates of the magnitude of this bias are not large enough to alter the view that construction-sector productivity growth has been weak. Next, we calculate new estimates of single-family residential construction productivity growth by state and metropolitan area from 1980 to 2019. These estimates reveal that productivity has declined the most in areas with a larger fraction of construction in the urban core and with tighter housing supply constraints, especially in locations with long permitting times.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"113 ","pages":"Article 104107"},"PeriodicalIF":3.5,"publicationDate":"2025-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143904356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-04-04DOI: 10.1016/j.regsciurbeco.2025.104106
Giovanni Millo
A key issue in spatial models is to appropriately specify the spatial effect. Robust Lagrange Multipliers (RLM) tests have long been popular in spatial econometrics for discriminating between spatial lag and spatial error processes. A review of the recent applied literature shows how they are often (mis)applied in a panel context, where further issues arise the tests were not designed to address in the first place: individual or time heterogeneity and time persistence. We address the performance of RLM tests in spatial panels through Monte Carlo simulation showing that they can become virtually useless as a specification device under substantial individual and especially time heterogeneity, regardless whether correlated or not; or in the presence of spatially lagged regressors. Accounting for unobserved effects by demeaning the data or adding dummies restores the good properties of the RLM. The presence of spatially lagged regressors remains instead problematic. We conclude with suggestions for improving applied practice.
{"title":"Empirical behaviour of Anselin et al.’s locally robust LM tests for spatial dependence in a panel data setting","authors":"Giovanni Millo","doi":"10.1016/j.regsciurbeco.2025.104106","DOIUrl":"10.1016/j.regsciurbeco.2025.104106","url":null,"abstract":"<div><div>A key issue in spatial models is to appropriately specify the spatial effect. Robust Lagrange Multipliers (RLM) tests have long been popular in spatial econometrics for discriminating between spatial lag and spatial error processes. A review of the recent applied literature shows how they are often (mis)applied in a panel context, where further issues arise the tests were not designed to address in the first place: individual or time heterogeneity and time persistence. We address the performance of RLM tests in spatial panels through Monte Carlo simulation showing that they can become virtually useless as a specification device under substantial individual and especially time heterogeneity, regardless whether correlated or not; or in the presence of spatially lagged regressors. Accounting for unobserved effects by demeaning the data or adding dummies restores the good properties of the RLM. The presence of spatially lagged regressors remains instead problematic. We conclude with suggestions for improving applied practice.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"112 ","pages":"Article 104106"},"PeriodicalIF":3.5,"publicationDate":"2025-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143808079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-18DOI: 10.1016/j.regsciurbeco.2025.104095
Marta Crispino, Michele Loberto
This paper investigates the impact of a government renovation subsidy program on housing prices, with a focus on the Italian region of Piemonte. We exploit a spatial discontinuity in the eligibility criteria for a tax credit targeting anti-seismic renovations and employ a difference-in-differences methodology to assess the policy’s effects. Our findings show that prices of apartments eligible for the subsidy increased by 3.2 percent more compared to those of ineligible properties. This increase rises to 11.2 percent when considering only single-family detached homes.
{"title":"Bridging policy and prices: Causal evidence of housing renovation subsidies on property values in Italy","authors":"Marta Crispino, Michele Loberto","doi":"10.1016/j.regsciurbeco.2025.104095","DOIUrl":"10.1016/j.regsciurbeco.2025.104095","url":null,"abstract":"<div><div>This paper investigates the impact of a government renovation subsidy program on housing prices, with a focus on the Italian region of Piemonte. We exploit a spatial discontinuity in the eligibility criteria for a tax credit targeting anti-seismic renovations and employ a difference-in-differences methodology to assess the policy’s effects. Our findings show that prices of apartments eligible for the subsidy increased by 3.2 percent more compared to those of ineligible properties. This increase rises to 11.2 percent when considering only single-family detached homes.</div></div>","PeriodicalId":48196,"journal":{"name":"Regional Science and Urban Economics","volume":"112 ","pages":"Article 104095"},"PeriodicalIF":3.5,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143685156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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