House prices and school choice: Evidence from Chicago's magnet schools’ proximity lottery

Studies of open school policies predict house prices to rise in areas that gain access to high-quality schools. However, excess demand may limit access to high-quality schools. We take advantage of changes in Chicago's schools’ admissions policies to test whether a higher probability of admission to magnet schools for students living within 1.5 miles leads to higher house prices. Results indicate that the 1997 and 2009 reforms increased house prices for homes within the 1.5 mile radius by about 4% and 12.6%, respectively. The higher probability of admission for black students after a consent decree was vacated in 2009 led to a significant increase in prices in predominantly African-American areas on the south side.     

旅游发展会推动房价上涨吗？——基于中国分省数据的经验研究

本文基于2000年～2009年中国大陆30个省区（不包含西藏）的面板数据,综合采用混合回归（POLS）、固定效应（FE）、随机效应（RE）、系统广义矩估计法（sys—GMM）,对旅游发展与房价之间的关系进行了经验检验。研究结果表明：（1）旅游发展对房价有显著的正向影响,且该影响主要发生在当期,两者之间的跨期影响并不明显;（2）旅游发展与房价的正向关系并不依赖于地区经济发展水平,城市化在旅游发展对房价的影响中起着正向调节作用;（3）系统GMM对动态面板模型的估计结果显示,地区房价具有“自我收敛”功能,房价决定系统中存在一种“逆风向”的动态调整机制;（4）旅游发展对房价的影响呈现出区域差异,其对西部、东部、中部房价的影响强度依次递减。     

Mafia doesn't live here anymore: Antimafia policies and housing prices

It is well known that the value of a house depends both on the physical characteristics and on some features of the neighborhood in which it is located. If so, organized-crime activities can significantly affect urban real estate values. Antimafia policies, in turn, can be intended as a tool to influence those external features. This paper compares the effects on real estate values of the two main antimafia policies implemented in Italy since the 1990s at the municipal level. While we do not find any significant effect of dismissal policies on house prices, we find a statistically significant effect of reassignment policies depending on the specific destination of confiscated property.     

Too late to buy a home? School redistricting and the timing and extent of capitalization

In the past 50 years, a voluminous literature estimating the value of schools through capitalization in home prices has emerged. Prior research has identified capitalization using a variety of approaches including discontinuities caused by boundaries. Here, we use changes in school boundaries and the opening of a new school in Fayette County (Lexington), Kentucky to identify this capitalization. Critical to properly estimating the effect of redistricting is to account for when information on redistricting is available. We treat the information about the effects of zoning as occurring in three stages: announcement of the intent to open the new high school and redistricting, approval of the specific redistricting plan (map), and implementation (opening of the new high school and actual changes in boundaries). We find significant changes in values for homes redistricted from lower-performing schools and we find that this capitalization occurs well before implementation of the redistricting. As we show, failure to account for capitalization occurring before implementation will attenuate and even change the sign of capitalization.     

PROPERTY LEFT BEHIND: AN UNINTENDED CONSEQUENCE OF A NO CHILD LEFT BEHIND “FAILING” SCHOOL DESIGNATION

Under the No Child Left Behind Act (NCLB), schools receiving Title I funding that fail to meet adequate academic performance targets for two consecutive years are deemed “failing.” This broadly defined, but often misunderstood designation has exerted a negative and unintended effect on low‐income neighborhoods—the same neighborhoods NCLB was originally intended to help. Specifically, we find that “failing” designations significantly decrease home prices. This property value response is observed even after controlling for a myriad of traditional test score measures and school‐level student demographics. Additional analyses suggest that this home price effect is largely due to strong perceptions of poor school quality or social stigma surrounding a “failing” designation.     

HEDONIC PRICING WHEN HOUSING IS ENDOGENOUS: THE VALUE OF ACCESS TO THE TRANS‐ISRAEL HIGHWAY*

Standard hedonic house pricing assumes that house prices are independent of the intangible to be priced. A methodology is proposed in which the supply as well as the demand for housing depends on the intangible. The methodology is applied to value access to the Trans‐Israel Highway (TIH). Using spatial panel data (2002–2008) we show that TIH had two effects on the housing market. It increased house prices in locations with greater access to TIH, and it affected housing construction. Standard hedonic pricing would have underestimated the value of access because it ignores the effects of housing construction on the intangible to be priced. House prices began to increase three years before TIH was inaugurated, but housing construction did not anticipate the inauguration of TIH.     

The Race Gap in Student Achievement Scores: Longitudinal Evidence from a Racially Diverse School District

Black and Hispanic students often display substantial gaps in test scores when compared to White students at all levels of education. In this article, we examine when and how the Black-White and Hispanic-White test score gaps develop in the early elementary grades in a California school district with a large minority population, where more than 80% of the students are Black or Hispanic. We use multivariate analysis to predict the annual reading and math test scores of a student cohort from first through fourth grade controlling for various school and family factors. We find that in this racially diverse school district achievement gaps do develop, for both Black and Hispanic students. However, in comparison to the Black-White achievement gaps, the Hispanic-White gaps develop later, in particular in math, and they are half the size of the Black-White achievement gaps. The eventual widening of the gaps for Hispanic and Black students does not seem to be the result of minority students attending schools of less quality. Finally, in contrast to previous studies with fewer minorities, the estimated achievement gaps by the fourth grade are small. ¹     

城市住宅的生态区位探析

在评析传统的住宅经济区位论的基础上,文章提出了居住环境的生态价值对住宅区位的重要意义,进而从经济因素和环境因素两个角度提出了城市住宅的生态区位模型。并以上海市为例分析了环境生态价值对商品住宅价格的影响,以及对未来住宅区位的几点启示。     

HOUSE PRICE IMPACTS OF RACIAL,INCOME, EDUCATION,AND AGE NEIGHBORHOOD SEGREGATION

We study housing prices and neighborhood segregation. We advance the literature by (1) studying not just racial segregation like previous studies, but also segregation by age, income, and education level, (2) using a finer unit of geography to construct segregation measures, (3) incorporating spatial statistics, and (4) separating segregation effects from underlying population level effects. We find race segregation is positively related to house prices, with an elasticity of 0.19. In contrast, income and educational segregation reduce housing values, with elasticities of ?0.23 and ?0.21. By comparison, house age has an elasticity of ?0.15. Age segregation is not generally capitalized.     

THE IMPACT OF MIXED LAND USE ON RESIDENTIAL PROPERTY VALUES*

ABSTRACT Contemporary European urban planning policies aim to mix land uses in compact neighborhoods. It is presumed that mixing land uses yields socioeconomic benefits and therefore has a positive effect on housing values. In this paper, we investigate the impact of mixed land use on housing values using semiparametric estimation techniques. We demonstrate that a diverse neighborhood is positively valued by households. There are various land use types that have a positive impact on house prices, e.g., business services and leisure. Land uses that are incompatible with residential land use are, among others, manufacturing and wholesale. It appears that households are willing to pay about 2.5 percent more for a house in a mixed neighborhood. We also show that there is substantial heterogeneity in willingness to pay for mixed land use. For example, only apartment occupiers are willing to pay for an increase in diversity, whereas households living in other house types are not willing to pay for diversity.     

The economic effects of big events: Evidence from the great jubilee 2000 in Rome

This paper assesses the short- and long-term economic impact of the 2000 Great Jubilee, the foremost Catholic event occurring every 25 years, on the city of Rome's economy. By applying the synthetic control approach, we find that the value added per capita increases slightly in the short term, whereas in the long term it is not significantly different from what it would have been if Rome had not hosted the Jubilee. However, we do find a significant effect on the employment rate. Consistent with these findings, we document a shift of the local economy toward less productive sectors, such as construction and services requiring lower skills, and an overall productivity loss with respect to the counterfactual scenario. The investment in infrastructure, facilities, and urban refurbishment did not significantly increase housing prices in the long term, with the exception of peripheral residential areas, which experienced an appreciation.     

基于POI大数据的老工业区房价影响因素空间分异与实证

在采集沈阳市铁西区2017年住宅、工厂、地铁站等兴趣点数据的基础上,将工厂距离、房龄以及住宅密度三个变量与传统变量共同参与构建地理加权回归模型,揭示房价影响因素的空间异质性及形成机制。结果表明：在全区范围内,房龄、住宅密度、公共交通、公共配套设施等对房价有显著的提升作用,而工业企业等对房价有一定的抑制作用;新老城区对比来看,所筛选的影响因素与房价的相关性具有显著的空间非平稳性,具体表现在工厂距离、公交密度、商场距离等因素在新老城区的正负影响差异,以及住宅密度、地铁站距离等单向影响因子回归系数的强度渐变;从研究方法来看,基于POI与GWR集成分析,可以有效克服房价实时更新慢、准确度低及数据清洗困难等传统难题,从而为构建和发展新数据环境下的经济地理研究提供参考。     

Immigration,new religious symbols,and the dynamics of neighborhoods

Last decades' non-western immigration to Europe has resulted in culturally and religiously more diverse populations in many countries. One manifestation of this diversification is new features in the cityscape. Using a quasiexperimental approach, in which an unexpected political process that led way to the first public call to prayer from a mosque in Sweden is combined with rich, daily, information on housing sales and detailed monthly information on internal migration, this paper examines how one such new feature affects neighborhood dynamics. While our results indicate that the calls to prayer increased house prices closer to the mosque, we find no evidence of increased residential segregation between natives and immigrants.     

Learning from Schools: School Choice,Political Learning,and Policy Feedback

This article investigates the policy feedback and political learning effects of school vouchers. Of particular interest is how market‐based policies affect the likelihood that program participants will connect their experiences with the policy to the government. I examine parent survey data from an evaluation of the Milwaukee school voucher program. I find that voucher parents are more likely than public school parents to perceive that the government has influenced their child's schooling and to believe that their experiences with their child's school have taught them about how government works. Further, voucher parents report that their experiences with the policy have made them more politically active. While majorities of voucher and public school parents support increased public school expenditures, there is some evidence that school vouchers may decrease support for public schools.     

HEDONIC ANALYSIS OVER TIME AND SPACE: THE CASE OF HOUSE PRICES AND TRAFFIC NOISE

One consequence of the expanding road network and its associated traffic is increased levels of traffic noise. While the hedonic literature has consistently found a negative relationship between real estate prices and noise levels, research in the United States has typically relied on crude measures of traffic noise. Here, we reduce the measurement error of traffic noise exposure through a detailed model of noise propagation over the landscape. We then estimate the hedonic relationship between noise and single family house prices using over 40,000 transactions throughout the St. Paul, Minnesota, urban area from 2005 to 2010. We implement spatially and temporally flexible local regression techniques and find significant nonstationarity in the hedonic function over time and space.     

Dynamic road pricing and the value of time and reliability

High Occupancy Toll (HOT) lanes that use dynamic pricing to manage congestion and generate revenue are increasingly popular. In this paper, we estimate the behavioral response of drivers to dynamic pricing in an HOT lane. The challenge in estimation lies in the simultaneity of price and demand: the structure of dynamic tolling ensures that prices increase as more drivers enter the HOT lane. Prior research has found that higher prices in HOT lanes increase usage. We find that after controlling for simultaneity HOT drivers instead respond to tolls in a manner consistent with economic theory. The average response to a 10 percent increase in the toll is a 1.6 percent reduction in usage. Drivers primarily value travel reliability over time savings, although there is heterogeneity in the relative values of time and reliability based on time of day and destination to or from work. The results highlight the importance of both controlling for simultaneity when estimating demand for dynamically priced toll roads and treating HOT lanes with dynamic prices as a differentiated product with bundled attributes.     

Do EU funds crowd out other public expenditures? Evidence on the additionality principle from the detailed Czech municipalities’ data

European Union (EU) funds flowing into budgets of public sector organizations of its member states should be additional to their nationally funded expenditures. To investigate this additionality principle systematically, we develop a new empirical method. Our main hypothesis is that some of the EU-funded projects are crowding out national public expenditures. Not being able to reject the hypothesis would be consistent with violating the additionality principle. To test the hypothesis, we examine how EU funding translates into actual spending of relatively comparable municipalities of the Czech Republic. We innovatively match the municipal authorities’ budgetary data on EU-funded expenditure projects with their other, nationally funded, expenditures. We find no systemic crowding out of national public expenditures by EU funds at the level of operational programmes in the Czech municipalities’ data, which is consistent with no evidence of violating the additionality principle. Nonetheless, going down to the municipal level enables us to show how the results can pinpoint individual cases of EU fund’s potential mismanagement in Czech municipalities. Overall, we provide the first evaluation of the additionality principle at the level of individual recipients of EU funds and in doing so we develop a methodological approach potentially applicable to other fund recipients.     

Testing for the Law of One Price and Identifying Price-Leading Markets: An Application to Corn Markets in Benin

A data-determined method is proposed to test for the law of one price as a long-run equilibrium condition and to identify which markets in a network of spatially dispersed commodity markets quote the reference price. The method consists of supplementing Johansen's FIML cointegration procedure with a permanent-transitory decomposition and rules of inference in linear time-series models with unit roots. As an example, we apply our method to prices of six corn markets in Benin. We find that the law of one price holds in the long-run. It appears that two rural markets quote the reference price: their prices adjust fastest towards the permanent change induced by the common stochastic trend.     

浅谈初中数学的启发式教学

根据初中数学的特点和初中学生的认知水平、高中升学考试中难度题的分值增加大,为了让学生能考出好成绩,帮助他们找到分析难题的方法,从而达到学会解题。     

Do land use restrictions increase restaurant quality and diversity?

There is significant evidence that restrictions on residential land use reduce housing supply, increase house prices, and limit inflows of low‐income households. Local decision‐makers often argue that their efforts are mere attempts to preserve local amenities. We provide evidence that there is some truth to this claim: that residents of cities with more restrictions on land use appear to have access to higher‐quality and more diverse restaurants. In the process, we develop measures of restaurant quality based on organically generated data that, while strongly correlated with expert assessments, are more easily calculated at high frequencies and levels of geographic granularity.