Nature et impacts des effets spatiaux sur les valeurs immobilières. Le cas de l'espace urbanisé parisien
Catherine Baumont () and
Diègo Legros ()
Revue économique, 2013, vol. 64, issue 5, 911-950
In this paper we show that spatial effects might remain once neighborhood effects and accessibility have been controlled for. We consider two types of neighborhood variables supporting neighborhood effects?: the socio-economic status and the policies in favor of diversity. Our empirical case concerns the Metropolitan Area (ma) of Paris in France comprising the city and the bordering departments. This area is covered by 2,636 neighborhood areas. We estimate the housing price distribution from a sample of 21,098 apartments. Several tests of spatial dependencies are performed and give the Spatial Durbin Model as the best specification to estimate. This model implies a spatial multiplier effect. We estimate a negative effect both for disadvantaged districts and diversification. In each case, the spatial effects tend to increase these impacts. Classification JEL?: C120, C520, R140, R210
JEL-codes: C12 C52 R14 R21 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:cai:recosp:reco_645_0911
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