The rich, the clean, and the kind - a comprehensive wealth index for cities applied to the case of Germany

Jonas Dovern, Martin Quaas and Wilfried Rickels

No 1828, Kiel Working Papers from Kiel Institute for the World Economy (IfW Kiel)

Abstract: We develop a comprehensive wealth index for cities that measures their endowment with environmental, energy, social, human, and economic capital stocks. We apply this index to the 100 largest autonomous cities in Germany. We find that (i) a good economic performance does not need to come at the cost of environmental degradation; (ii) clear regional differences exist between West and East Germany and between North and South Germany; and (iii) social preferences reflected in the comprehensive wealth index account for roughly half of the variation in housing rents, which reflect individual willingness to pay for living in a certain city.

Keywords: comprehensive wealth; city; social preferences (search for similar items in EconPapers)
JEL-codes: Q56 R11 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:1828

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