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作者

来源

REGIONAL SCIENCE AND URBAN ECONOMICS,Vol.74,P.18-37

语言

英文

关键字

Traffic externalities; Street livability; Urban policy; Housing market; PROPERTY-VALUES; IMPACT; EXTERNALITIES; HEALTH; NOISE; RISK; QUALITY; CRIME

作者单位

[Polloni, Stefano] Brown Univ, Dept Econ, Box B, Providence, RI 02912 USA. Polloni, S (reprint author), Brown Univ, Dept Econ, Box B, Providence, RI 02912 USA. E-Mail: stefano_polloni@brown.edu

摘要

This paper examines the impact of traffic calming on the livability of urban residential streets. Using georeferenced data on the installation of 1187 calming devices in Portland (OR), I test whether the interventions locally affect housing prices during succeeding years. I provide reduced-form evidence that city dwellers pay significant premiums to limit their exposure to motor vehicles, but obtain mixed results regarding the overall price impacts of calming devices. My estimates suggest that only the most effective traffic calming measures have a detectable impact on housing prices. The implied traffic flow elasticity is -0.07: projects decreasing traffic by 16% raise home values on treated streets by 1%.