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Nuclear power plant closures and local housing values : Evidence from Fukushima and the German housing market

Title data

Bauer, Thomas K. ; Braun, Sebastian Till ; Kvasnicka, Michael:
Nuclear power plant closures and local housing values : Evidence from Fukushima and the German housing market.
In: Journal of Urban Economics. Vol. 99 (2017) . - pp. 94-106.
ISSN 0094-1190
DOI: https://doi.org/10.1016/j.jue.2017.02.002

Abstract in another language

The Fukushima Daiichi accident in Japan in March 2011 caused a fundamental change in Germany’s energy policy which led to the immediate shut down of nearly half of its nuclear power plants. Using data from Germany’s largest internet platform for real estate and employing a difference-in-differences approach, we find that Fukushima reduced housing prices near nuclear power plants that were in operation before Fukushima by 4.9%. Housing prices near sites that were shut down right after the accident even fell by 9.8%. Our results suggest that on the German housing market, the negative economic effects of the closure of nuclear power plants dominate potential positive changes in local amenities.

Further data

Item Type: Article in a journal
Refereed: Yes
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics VII: Quantitative Economic History
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics
Result of work at the UBT: No
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 13 Jul 2018 06:59
Last Modified: 13 Jul 2018 06:59
URI: https://eref.uni-bayreuth.de/id/eprint/45026