The Housing Market Impacts of Shale Gas Development

• 成果类型: Article
• 署名作者: Muehlenbachs, Lucija; Spiller, Elisheba; Timmins, Christopher
• 署名单位: University of Calgary; Resources for the Future; Environmental Defense Fund; Duke University
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20140079
• 发表日期: 2015
• 页码: 3633-3659
• 关键词: matching estimators; property-values; pennsylvania; RISK; BIAS; boom; OIL

摘要

Using data from Pennsylvania and an array of empirical techniques to control for confounding factors, we recover hedonic estimates of property value impacts from nearby shale gas development that vary with water source, well productivity, and visibility. Results indicate large negative impacts on nearby groundwater-dependent homes, while piped-water-dependent homes exhibit smaller positive impacts, suggesting benefits from lease payments. Results have implications for the debate over regulation of shale gas development.