The Housing Market Impacts of Shale Gas Development

Lucija Muehlenbachs, Elisheba Spiller and Christopher Timmins

RFF Working Paper Series from Resources for the Future

Abstract: Using data from Pennsylvania and New York and an array of empirical techniques to control for confounding factors, we recover hedonic estimates of property value impacts from shale gas development that vary with geographic scale, water source, well productivity, and visibility. Results indicate large negative impacts on nearby groundwater-dependent homes, while piped-water-dependent homes exhibit smaller positive impacts, suggesting benefits from lease payments. At a broader geographic scale, we find that new wellbores increase property values, but these effects diminish over time. Undrilled permits cause property values to decrease. Results have implications for the debate over regulation of shale gas development.Classification-JEL: Q32, Q33, Q50, Q53

Keywords: shale gas; groundwater; property values; hedonic models; nearest neighbor matching; differences-in-differences; triple differencesCreation-Date: 2013-12-09 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene, nep-reg and nep-ure
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Citations: View citations in EconPapers (141)

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Related works:
Journal Article: The Housing Market Impacts of Shale Gas Development (2015)
Working Paper: The Housing Market Impacts of Shale Gas Development (2014)
Working Paper: The Housing Market Impacts of Shale Gas Development (2013)
Working Paper: The Housing Market Impacts of Shale Gas Development (2013)
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