Estimating the Amenity Costs of Global Warming in Brazil: Getting the Most from Available Data

Christopher Timmins

No 28491, Center Discussion Papers from Yale University, Economic Growth Center

Abstract: This paper develops a theoretically consistent technique for valuing non-marketed local attributes using compensating income differentials in the absence of housing market data. The individual's indirect utility function is identified with aggregate data describing equilibrium location decisions, and this function is used in place of the unidentified equation describing how housing prices are determined. The model is used to value climate amenities in Brazil, where such data problems are prevalent. Similar problems arise in other developing countries, particularly when one looks outside of the largest cities.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 42
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:ags:yaleeg:28491

DOI: 10.22004/ag.econ.28491

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