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作者

来源

JOURNAL OF URBAN ECONOMICS,Vol.99,P.94-106

语言

英文

关键字

Fukushima; Nuclear power plants; Housing prices; Germany; RESIDENTIAL PROPERTY-VALUES; PRICES; EXTERNALITIES; OPENINGS; QUALITY; PROGRAM; MODELS

作者单位

[Bauer, Thomas K.] RWI Leibniz Inst Wirtschaftsforsch, Hohenzollernstr I-3, D-45128 Essen, Germany. [Bauer, Thomas K.] Ruhr Univ Bochum, RWI Leibniz Inst Wirtschaftsforsch, IZA, Bochum, Germany. [Braun, Sebastian T.] Univ St Andrews, Sch Econ & Finance, Castlecliffe KY16 9AR, The Scores, Scotland. [Braun, Sebastian T.] Univ St Andrews, St Andrews, Fife, Scotland. [Braun, Sebastian T.] Kiel Inst World Econ, Kiel, Germany. [Kvasnicka, Michael] Otto von Guericke Univ, Univ Pl 2, D-39016 Magdeburg, Germany. [Kvasnicka, Michael] Otto von Guericke Univ, RWI Leibniz Inst Wirtschaftsforsch, IZA, Magdeburg, Germany. Braun, ST (reprint author), Univ St Andrews, Sch Econ & Finance, Castlecliffe KY16 9AR, The Scores, Scotland.; Braun, ST (reprint author), Univ St Andrews, St Andrews, Fife, Scotland.; Braun, ST (reprint author), Kiel Inst World Econ, Kiel, Germany. E-Mail: Thomas.Bauer@rwi-essen.de; stb2@st-andrews.ac.uk; Michael.Kvasnicka@ovgu.de

摘要

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. (C) 2017 Elsevier Inc. All rights reserved.