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Zurich Open Repository and Archive 

Permanent URL to this publication: http://dx.doi.org/10.5167/uzh-51918

Boes, Stefan; Nüesch, Stephan (2009). New Flight Regimes and Exposure to Aircraft Noise: Identifying Housing Price Effects Using a Ratio-of-Ratios Approach. Working paper series / Socioeconomic Institute No. 906, University of Zurich.

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Abstract

In October 2003, a new flight regime was introduced at Zurich airport that significantly changed the levels of noise pollution in surrounding communities. We investigate the impact of the new flight policy on apartment prices using a hedonic price model and a non-linear difference-in-differences identification strategy. Our results suggest that rental prices increased by about 3 to 8 percent less in regions affected by the policy change, controlling for several apartment and location characteristics. The noise discount is still significant, although smaller, even after the inclusion of object-speciffc fixed effects. However, we do not find evidence of price changes in the sales market.

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Socioeconomic Institute (former)
DDC:330 Economics
JEL Classification:C21, Q53, R21
Language:English
Date:April 2009
Deposited On:29 Nov 2011 20:09
Last Modified:09 Jul 2012 05:01
Series Name:Working paper series / Socioeconomic Institute
Official URL:http://www.econ.uzh.ch/wp.html

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