The Value of Clean Air: Evidence from Chinese Housing Markets

Lin Zhou, Jianshuang Fan and Zhenguo Lin

Journal of Real Estate Research, 2024, vol. 46, issue 3, 360-388

Abstract: This paper studies the value of clean air by analyzing the effect of China’s clean air policy. By exploiting the cross-city variation in the timing of policy implementation and using a panel dataset of 280 cities from 2003 to 2018, we find that the clean air policy boosts housing prices by 4.4%. The finding is robust to a series of potential issues, functional misspecifications, and falsification tests. In addition, we examine whether the effect varies across different price-tier cities and changes over time, and we find evidence of such heterogeneous and dynamic effects.

Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/08965803.2024.2352201 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rjerxx:v:46:y:2024:i:3:p:360-388

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rjer20

DOI: 10.1080/08965803.2024.2352201

Access Statistics for this article

Journal of Real Estate Research is currently edited by William Hardin and Michael Seiler

More articles in Journal of Real Estate Research from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().