제목: Effects of Transboundary Air Pollution on Housing Price in Korea
일정: 2019년 12월19일
장소: 서울대학교 농업생명과학대학 (200동8202호)
발표 내용:
Considering the slow progress in policy discussion on joint air pollution control between China and Korea and limited attention to transboundary pollution in Hednoic literature recently. The research questions include as follow: are transboundary pollutants significant in explaining Korea’s local air quality? how large is Korean’s local property value damage from transboundary pollution? This study aims to estimate the magnitude of market damage from transboundary pollution, focusing on housing value.
연구 방법
Using 5-year panel data (2012-2016) for 112 city/county-level administrative units for and 5-year panel data (2012-2016) for 260 prefectural-level cities for China, this study applied the spatial fixed effects 2SLS model to analyze the effects of transboundary air pollution on housing price in Korea. Transboundary Pollutants from China was treated as the instrumental variable.
연구 결론
Housing prices in Korea reflect substantial market premiums for clean air. (Elasticity: -0.29).PM concentrations in Korea are partly explained by wind-transported particulate from China. (Elasticity: 0.05). Transboundary pollution from China negatively affects housing prices in Korean cities. (Elasticity: -0.014).
일정: 2019년 12월19일
장소: 서울대학교 농업생명과학대학 (200동8202호)
발표 내용:
Considering the slow progress in policy discussion on joint air pollution control between China and Korea and limited attention to transboundary pollution in Hednoic literature recently. The research questions include as follow: are transboundary pollutants significant in explaining Korea’s local air quality? how large is Korean’s local property value damage from transboundary pollution? This study aims to estimate the magnitude of market damage from transboundary pollution, focusing on housing value.
연구 방법
Using 5-year panel data (2012-2016) for 112 city/county-level administrative units for and 5-year panel data (2012-2016) for 260 prefectural-level cities for China, this study applied the spatial fixed effects 2SLS model to analyze the effects of transboundary air pollution on housing price in Korea. Transboundary Pollutants from China was treated as the instrumental variable.
연구 결론
Housing prices in Korea reflect substantial market premiums for clean air. (Elasticity: -0.29).PM concentrations in Korea are partly explained by wind-transported particulate from China. (Elasticity: 0.05). Transboundary pollution from China negatively affects housing prices in Korean cities. (Elasticity: -0.014).