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New Flight Regimes and Exposure to Aircraft Noise: Identifying Housing Price Effects Using a Ratio-of-Ratios Approach


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.

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.

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.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Socioeconomic Institute (former)
Dewey Decimal Classification:330 Economics
JEL Classification:C21, Q53, R21
Language:English
Date:April 2009
Deposited On:29 Nov 2011 20:09
Last Modified:21 Nov 2017 15:35
Series Name:Working paper series / Socioeconomic Institute
Official URL:http://www.econ.uzh.ch/wp.html

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