Browsing by Author "van Vuuren, Aico"

Now showing 1 - 6 of 6

Is there a diminishing value of urban amenities as a result of the Covid-19 pandemic?
(University of Gothenburg, 2022-01) van Vuuren, Aico; Department of Economics, University of Gothenburg
We investigate whether the Covid-19 pandemic decreased the willingness to pay for urban amenities such as restaurants, cinemas and theaters. We do this by using a hedonic pricing model in combination with a time-gradient difference-in-difference approach. We use a data set that contains virtually all apartments for sale in the larger Stockholm area. We use a very detailed and exible de nition of density of urban amenities based on the exact location of these amenities and the walking distance from the apartments to these amenities. We nd a decrease of 1.9 percent of apartments that we label as amenity rich.
Nonseparable Sample Selection Models with Censored Selection Rules
(2018-01) Fernandez-Val, Ivan; van Vuuren, Aico; Vella, Francis; Dept. of Economics, University of Gothenburg
We consider identification and estimation of nonseparable sample selection models with censored selection rules. We employ a control function approach and discuss different objects of interest based on (1) local effects conditional on the control function, and (2) global effects obtained from integration over ranges of values of the control function. We provide conditions under which these objects are appropriate for the total population. We also present results regarding the estimation of counterfactual distributions. We derive conditions for identification for these different objects and suggest strategies for estimation. We also provide the associated asymptotic theory. These strategies are illustrated in an empirical investigation of the determinants of female wages and wage growth in the United Kingdom.
On-the-job search and city structure
(2016-06) van Vuuren, Aico; Dept. of Economics, University of Gothenburg
This paper investigates an equilibrium search model in which search frictions are increasing with the distance to a city’s central business district, allowing for on-the-job search and endogenous wage formation and land allocation. The findings suggest that the decentralized market results in a more segregated outcome than may be socially desirable. The externality comes from the misguided incentives for the low-paid workers, who have a high preference for central locations in order to climb up the job ladder. Policies reducing the rental costs of un- employed workers for locations close to the central business district may potentially increase welfare.
Real-Estate Agent Commission Structure and Sales Performance
(2017-02) Gautier, Pieter; Siegmann, Arjen; van Vuuren, Aico; Dept. of Economics, University of Gothenburg
Do higher real-estate agent fees imply better performance? This study uses a nation-wide dataset of residential real-estate transactions in the Netherlands from 1985 to 2011 to provide evidence against this. Brokers with a flat-fee structure who charge an up-front fee (which is substantially lower than the average fee of traditional brokers) and leave the viewings to the seller sell faster and at - on average - 2.7 percent higher prices. We correct for fixed house-and time effects. We provide additional evidence that the price difference is not due to a seller-selection effect.
The effect of land lease on house prices
(2017-01) Gautier, Pieter A.; van Vuuren, Aico; Dept. of Economics, University of Gothenburg
In Amsterdam, houses located on private land and houses with various land-lease contracts coexist. In this paper, we investigate the impact of future land-lease payments on the house price. We look at the impact on house prices of: (i) the number of years that the land lease has been paid in advance and (ii) the amount that must be paid up front. Houses on privately owned land are on average 10% more expensive. Houses with a land-lease contract that has been paid in advance are 0.41% more expensive for each year that no land lease has to be paid. We find a large and negative impact of the land-lease rent that needs to be paid on the house price.
The impact of the announcement of temporary building sites for refugees on house prices in Gothenburg
(2018-02) Kjellander, Josef; Nilsson, Viktor; van Vuuren, Aico; Dept. of Economics, University of Gothenburg
We evaluate the price development of apartments in neighborhoods surrounding temporary housing for refugees using the unpredicted announcement of three building sites, targeting refugees, in Gothenburg. More in particular, we look at the price development in the year after the announcement. We use a causal outcome model that takes account of time and postal-code fixed effects and we define an area to be affected by the announcement based on walking distance. We find support for a small price effect.