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Estimating the Residential Land Damage of the Fukushima Accident

Daiji Kawaguchi () and Norifumi Yukutake

No 2014-18, Discussion Papers from Graduate School of Economics, Hitotsubashi University

Abstract: The cost of nuclear power generation critically depends on the damages caused by plant failure. We estimate the residential land damage caused by the failure of the Fukushima Daiichi nuclear power plant, as it forms a substantial part of the total damage, by observing the change in transaction prices before and after the accident with the degree of radioactive contamination. The estimates based on hedonic price equations, with the degree of radioactive contamination measured by airborne surveys, indicate that the contamination significantly decreased the price of residential land. The estimated total residential depreciation ranges from 2.19 to 2.65 trillion yen, approximately equivalent to 21.9-26.5 billion US dollars, or about 0.5% of Japan's GDP.

Keywords: Fukushima; Nuclear Power Plant; Land Property Damage; Radioactive Contamination; Land Contamination (search for similar items in EconPapers)
JEL-codes: Q51 Q53 R31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene, nep-env and nep-ure
Date: 2014-11-28
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Handle: RePEc:hit:econdp:2014-18