TRAFFIC EXTERNALITIES AND SINGLE-FAMILY HOUSE PRICES*

ABSTRACT. This study is the first to lend empirical support to the common belief that traffic intensity affects property values. Using a standard hedonic pricing model, this paper investigates the price effects on housing of traffic within a neighborhood. Results using data on single-family housing transactions for two different locations in a medium-sized city show a substantial negative price effect of traffic externalities. The magnitude of the effect is shown to be location specific.     

THE IMPACT OF ECONOMIC OPPORTUNITY, AMENITIES AND FISCAL FACTORS ON AGE-SPECIFIC MIGRATION RATES

ABSTRACT. Migration models have considered several different categories of determinants, including economic opportunities, amenities, and state and local fiscal factors. Migration has also been shown to depend on the individual's position in the life cycle. This paper represents a first attempt to integrate all three categories of determinants of migration into a life-cycle framework. Empirical findings generated from a countrywide model of white male migration, over the period 1970 to 1980, reveal that all three types of determinants are important. Specifically, economic opportunities are most influential for males during their working years. Amenities are also found to follow a life-cycle pattern with older migrants more attracted to amenable locations than their younger cohorts. Finally, state income and death taxes display life-cycle effects; working males in their peak earning years are detracted by high income taxes while all migrants aged 55 to 69 avoid counties in states with high inheritance and estate taxes.     

Rejoinder to Lepper Concerning Serpent Mound

In this article we address comments made by Bradley Lepper concerning our previously published article, “Radiocarbon Dates Reveal Serpent Mound is More than Two Thousand Years Old” (Romain, Herrmann, Monaghan, and Burks 2017). Further we offer commentary on the new radiocarbon dates provided by Lepper (this volume).