Distant Event, Local Effects? Fukushima and the German Housing Market

Michael Kvasnicka, Thomas Bauer () and Sebastian Braun

VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy from Verein für Socialpolitik / German Economic Association

Abstract: The Fukushima Daiichi accident in Japan in March 2011 caused a fundamental change in Germanys energy policy which led to the immediate shut down of nearly half of its nuclear power plants. Using data from Germanys largest internet platform for real estate and employing a difference-in-differences approach, we find that Fukushima reduced house prices near nuclear power plants that were in operation before Fukushima by almost 5%. House prices near sites that were shut down right after the accident even fell by 9.7%. Our results suggest that economic reasons are of prime importance for this observed fall in house prices.

JEL-codes: Q48 Q58 R31 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-ene, nep-geo and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/100297/1/VfS_2014_pid_909.pdf (application/pdf)

Related works:
Working Paper: Distant event, local effects? Fukushima and the German housing market (2013)
Working Paper: Distant Event, Local Effects? Fukushima and the German Housing Market (2013)
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:zbw:vfsc14:100297

Access Statistics for this paper

More papers in VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy from Verein für Socialpolitik / German Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().