 Shale gas transmission and housing pricesAndrew Boslett and Elaine Hill Resource and Energy Economics, 2019, vol. 57, issue C, 36-50 Abstract: In this study, we exploit residential property sales data in New York to value the external environmental costs of the proposed Constitution Pipeline, a high-capacity transmission pipeline designed to transport hydraulically-fractured natural gas in Pennsylvania to large northeastern markets. Results from difference-in-differences models suggest post-announcement price declines of 9% (∼$12,000) for those properties located within three kilometers of the pipeline. These results are strongly robust to different specifications and subsets of the data, as well as falsification testing. Additionally, we find some evidence of attenuation in our treatment effect over time, which is indicative of either declining salience or expectations of the pipeline over time. Our results suggest that homebuyer expectations of the environmental externalities of natural gas pipeline construction and operations are large and negative. Keywords: Shale gas development; Natural gas transmission pipelines; Hedonic valuation (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:resene:v:57:y:2019:i:c:p:36-50 DOI: 10.1016/j.reseneeco.2019.02.001 Access Statistics for this article Resource and Energy Economics is currently edited by J. F. Shogren and S. Smulders More articles in Resource and Energy Economics from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.