Geostatistical Air Pollution Indexes in Spatial Hedonic Models: The case of Madrid, Spain

Gema Fernández-Avilés (), Roman Minguez () and José-María Montero ()
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Roman Minguez: University of Castilla-La Mancha

Journal of Real Estate Research, 2012, vol. 34, issue 2, 243-274

Abstract: Recent work has shown how spatial econometrics can be applied to a housingvalue hedonic equation that includes air pollution variables. In this paper we propose a Spatial Durbin Model that incorporates an Air Pollution Index, instead of one or two pollution variables, and considers spatial and non-spatial endogeneity jointly. We do, however, assume both possibilities for the index: exogenous and endogenous. Unlike most empirical studies in the literature, we have focused our empirical analysis on a European city, Madrid. In order to do so, we constructed a massive data base in 2009 that includes almost 12,000 dwellings.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (16)

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