Commutes, neighborhood effects, and compensating differentials: revisited

Article Abstract:

Commuting patterns vary substantially across metropolitan areas. In Los Angeles, skilled whites commutes 18% shorter than blacks after controlling for residential and employment location fixed effects. On the other hand, small and statistically insignificant racial differences in commute times were estimated in several metropolitan areas. Samples from individual metropolitan areas also reveal that commute time differences decrease with education level. However, the impact of education in commute time varies by metropolitan area. For blacks with lower education levels, commute times are largest and often statistically significant in Dallas, TX, Detroit, MI, and Tampa, FL. Significant racial differences in commute times that cannot be compensated either in the housing or labor market exist in Los Angeles, CA, Washington DC, Dallas, TX, and Tampa, FL.

Social aspects, Labor market, Urban economics, Race discrimination, Housing discrimination

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Residential hedonic models: a rational expectations approach to age effects

Article Abstract:

A new theory that seeks to explain the age coefficient in a standard hedonic model is developed using a rational expectations framework introduced by Campbell and Shiller (1989) and Campbell (1990). Under this model, the age coefficient is comprised of two parts: a pure cross-sectional component and a demand-side component linked with fluctuations in age-related housing demand. The analysis demonstrates that it is possible to estimate a constant quality price index with age constant with the use of any repeat sales database containing information about the property's age. When the model is fitted with data from Fairfax County, VA, a non-stationary time-series of age coefficients is revealed. Other findings are discussed.

Models, Housing, Depreciation, Rational expectations (Economics), Age, Age (Biology)

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Landscape preferences and patterns of residential development

Article Abstract:

The significance of landscape options as a deciding factor in arrangement of residential locations is investigated. In this context, a framework is examined in which the choice of residential location is based upon people's preference for nearness to open space.

Management dynamics, Management, Company business management, Landscape assessment, House construction

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