estimating market prices and assessed values for income properties assessors perform property valuations for the purpose of tax assessment buyers and sellers make investment decisions culminating in a market price the valuation by assessors is supposed to be fair and equitable and to amount to a prescribed proportion of market value we investigate the property features considered by assessors in arriving at the assessed value and by buyers and sellers in arriving at the market price we also explore what factors appear to be considered differently by the assessors and the market thus contributing to overassessment or underassessment of property taxes the analysis deals with income properties centrally located in stockholm sweden

estimating distance gradients for apartment properties the effect of distance from the city centre on selling price tax assessment and gross income is investigated for income property in proximity to the city centre hedonic estimation with a multiplicative model specification is used to estimate the relationship between property characteristics on the one hand and price assessment and income on the other the sample consists of centrally located apartment buildings in downtown stockholm sold during a recent three year period the application is specific to stockholm but the methodology and the insights gained are general the results include the estimation of price gradients for the dependent variables the models are used for estimating the implicit capitalisation rates in the property market as a function of the distance to the centre we also estimated where the market appears to place the city centre as implied by the observations although no rent gradient was found we were able to detect a significant negative price gradient the former is reasonab

the increase in brazilian household income and its impact on co2 emissions evidence for 2003 and 2009 from input output tables abstract in recent years brazil has experienced economic growth and a recovery of income that has had a positive impact on the consumption of goods in this paper we evaluate the impact of brazilian household consumption on the co2 emissions for 2003 and 2009 using input output tables from the world input output database we used a semi closed model with eight household groups in order to apply the hypothetical extraction method in the consumption structure of each group further we use the result from the hypothetical extraction to evaluate the impacts of the structure consumption of each household group in terms of co2 emissions we find that there is a trade off between the households greater satisfaction from consumption and the increasing setback in emissions from the restructuring and modification of the consumption basket thus this study contributes to the research on emissions by mapping the recent behavior of the brazilian economy in terms of increased income changes in the consumption structure and their impacts on emissions the paper s aggregated results by income and consumption structure based on the intensity of the emissions and their systemic effects add to the discussions on less polluting production processes more conscious consumption of goods and more rational uses of energy and transportation

explaining the spatial variation in housing prices an economic geography approach housing prices vary geographically even between neighbouring municipalities local differences can be attributed to differences in socio economic variables and real estate characteristics this article argues that one should additionally take into account the geographical location of municipalities in particular housing prices are affected by distance and travel time to important economic centres offering jobs and extensive services following the economic geography literature we develop a model showing the explicit impact of geographical barriers on housing prices as such we distinguish ourselves from the existing literature on the dynamics of housing prices since geographical elements are fairly constant over time we estimate our model on municipality level housing prices for all 589 belgian municipalities in 2001 we also differentiate between the two main regions of belgium flanders and wallonia our empirical results confirm expectations geographical barriers have significantly negative eff

us demilitarization and global warming an empirical investigation of the environmental peace dividend abstract in the paper input output methods are used to generate ballpark empirical estimates of the implications for global warming of the projected demilitarization of the us federal budget the impact is found to be qualitatively ambiguous and highly sensitive to the manner in which the funds saved are distributed the effect is adverse where the budgetary savings are used to fund economy wide cuts in personal taxation and or deficit reduction in other cases the effect may be neutral or beneficial

a green energy plan for denmark several political regulation instruments such as co2 taxes have been suggested to implement co2 reduction policies but normally the cost of implementing co2 reduction policies is considered to be a threat to both economic growth and employment but to some extent strategies can be developed which implement co2 reduction goals by creating jobs and such strategies could help economic growth

the double dividend second best worlds and real world environmental policy abstract the recent series of papers by bovemberg goulder parry and others argue that the double dividend is unlikely to exist because of second best problems they argue that the imposition of environmental tax in an economy already distorted by income taxes will further distort the economy by reducing incentives to supply labor our paper argues that this is not likely to be the case because of the restrictive assumptions made by these models and because of the role of the environment as a factor of production

environmental taxation and unemployment some evidence on the double dividend hypothesis in europe abstract the employment double dividend hypothesis suggests that an appropriately designed fiscal reform in which emission charges are used to subsidize employers social security contributions may realize at least two relevant policy goals a better quality of the environment and at the same time an increase in employment levels this paper uses a newly developed econometric general equilibrium model for the european union as well as for each member country and presents simulation results up to the year 2010 of the effects of a european carbon tax the revenues from which are recycled to reduce employers social security contributions the results show that recycling carbon tax revenues may provide an employment double dividend only in the short run

estimating direct and indirect rebound effects for u s households with input output analysis part 1 theoretical framework abstract this is the first part of a two part paper providing an analytical model of the indirect rebound effect given a direct rebound estimate that integrates consumer demand theory with the embodied energy of household spending from environmentally extended input output analysis the second part applies the model developed in part one to simulate the direct and indirect rebound for the average u s household in terms of primary energy co2e nox and so2 emissions and for energy efficiency investments in electricity natural gas or gasoline services part one provides a critical review of the largely independent economic and industrial ecology literatures on the indirect rebound by studying the two goods case and the n goods case we demonstrate that the indirect rebound is bounded by the consumer budget constraint and inversely related to the direct rebound we also compare the common proportional spending and income elasticity spending assumptions with our model of cross price elasticities including both substitution and income effects for the indirect rebound by assuming zero incremental capital costs and the same embodied energy as conventional technologies for efficient appliances we model an upper bound of the indirect rebound future work should also consider the increase in consumer welfare possible through the rebound effect

environmental and social accounting for brazil an environmentally extendedsocial accounting matrix sam has beenconstructed for brazil for the first time wereview in detail previous studies in thisfield describe the construction structure anddata sources of the brazilian sam anddemonstrate the effect of system closure examining a range of type i and type iimultipliers we show that incomes generated byfinal consumption are highly skewed towardsrich households but energy requirements andcarbon emissions are higher for the consumptionof the poor a significant negative correlationexists between employment and income on onehand and energy requirements and carbonemissions on the other while a significantpositive correlation exists between imports and energy and carbon these correlationsdemonstrate that there is scope for policiesthat pursue imports substitution and reduceenergy consumption and carbon emissions whilstincreasing employment and income

valuing rail access using transport innovations this paper uses a powerful empirical method to evaluate the benefits of rail access to consumers we study the effects on house prices of a transport innovation that altered the distance to the nearest station for some households but left others unaffected the transport innovation we study is the construction of new stations in london in the late 1990s using this innovation we implement a quasi experimental approach that allows us to avoid the biases inherent in cross sectional valuation work our evidence on distance station effects on local prices identified through distance changes induced by the transport innovation suggests that households value rail access and that these valuations are large compared to the valuations of other local amenities

the responsibility for carbon emissions and carbon efficiency at the sectoral level evidence from china this work reviews benefit based principles to measuring responsibility for carbon emissions at the sectoral level using environmental input output analysis several new emissions multipliers are proposed to measure sectoral carbon efficiency these principles are used in an empirical analysis of carbon emissions in china and differences between the principles are compared the results indicate that all principles considered can prevent double counting of emissions but that different principles may lead to significantly different attributions of responsibility for carbon emissions and to different multiplier values for particular sectors electricity and heat supply is found to be the sector with the highest emissions responsibility under all but the consumer responsibility principle as well as the highest carbon multiplier under all principles however this sector s responsibility under producer responsibility principles is greater than that under other principles basic metals and transportation and post and telecommunication are among the top five sectors with the greatest responsibilities under all but the consumer responsibility principle whereas construction has the highest consumer responsibility among all sectors the pros and cons and policy implications of each principle are also discussed

the effects of expected transport improvements on housing prices improvements in transport were commonly found to have a positive effect on the price of housing as the construction of infrastructure often lasts for years it is plausible to assume that investors will take expected improvements into consideration when pricing and trading neighbourhood properties however there have been few investigations of such effects this paper is an empirical study of whether premiums were paid for the expected benefits offered by a new tunnel before its completion the results showed that there were positive price expectation effects well before the completion of the tunnel the expectation effects allow the government to finance infrastructure projects by selling land in the affected districts in advance

primary energy and greenhouse gases embodied in australian final consumption an input output analysis input output modeling of primary energy and greenhouse gas embodiments in goods and services is a useful technique for designing greenhouse gas abatement policies the present paper describes direct and indirect primary energy and greenhouse gas requirements for a given set of australian final consumption it considers sectoral disparities in energy prices capital formation and international trade flows and it accounts for embodiments in the gross national expenditure as well as the gross domestic product primary energy and greenhouse gas intensities in terms of mj and kg co2 e are reported as well as national balances of primary energy consumption and greenhouse gas emissions

a new approach to measuring the rebound effect associated to energy efficiency improvements an application to the us residential energy demand this paper brings attention to the fact that the energy demand frontier model introduced by filippini and hunt 2011 2012 is closely connected to the measurement of the so called rebound effect associated with improvements in energy efficiency in particular we show that their model implicitly imposes a zero rebound effect which contradicts most of the available empirical evidence on this issue we relax this restrictive assumption through the modelling of a rebound effect function that mitigates or intensifies the effect of an efficiency improvement on energy consumption we illustrate our model with an empirical application that aims to estimate a us frontier residential aggregate energy demand function using panel data for 48 states over the period 1995 to 2011 average values of the rebound effect in the range of 56 80 are found therefore policymakers should be aware that most of the expected energy reduction from efficiency improvements may not be achieved

an input output analysis of australian energy planning issues the belief that the price mechanism can be used exclusively to combat problems arising from growing energy shortages has led to the neglect of the repercussions of energy conservation on the macroeconomic problems of growth and development moreover many studies consider only the direct effects of energy use and concentrate on petroleum shortages so underestimating the total repercussion and structural dependence associated with changes in energy demand in australia this study attempts to overcome these gaps by modifying input output modelling to estimate all primary energy demand for fossil fuels in australia the complex interactions between energy conservation and macroeconomic goals are investigated at sectoral levels the optimal sectors that meet macroeconomic goals and energy constraints simultaneously have been identified using simple but powerful analytical tools the tradeoffs between energy use and macroeconomic objectives are quantified using energy as a numeraire the conflicts that emerge between macro planning criteria and energy use efficiency are exemplified and the need to reconcile them using the value judgements of political decisionmakers is clarified the limitations and the scope for refinement of the methodology are also discussed

allocating ecological footprints to final consumption categories with input output analysis we present and discuss a method that allows the disaggregation of national ecological footprints by economic sector detailed final demand category sub national area or socio economic group this is done by combining existing national footprint accounts with input output analysis calculations in the empirical part are carried out by using supply and use tables for the united kingdom covering the reporting period 2000 ecological footprints are allocated to detailed household consumption activities following the coicop classification system and to a detailed breakdown of capital investment the method presented enables the calculation of comparable ecological footprints on all sub national levels and for different socio economic groups the novelty of the approach lies in the use of input output analysis to re allocate existing footprint accounts in the detail of disaggregation by consumption category and in the expanded use of household expenditure data this extends the potential for applications of the ecological footprint concept and helps to inform scenarios policies and strategies on sustainable consumption the method described in this paper can be applied to every country for which a national footprint account exists and where appropriate economic and environmental accounts are available the approach helps to save time in data collection and improves the consistency between ecological footprint estimates for a particular human society from different researchers for these reasons the suggested methodology includes crucial steps on the way towards a standardisation of ecological footprint accounts

the rebound effects of switching to vegetarianism a microeconomic analysis of swedish consumption behavior sustainable diets in particular vegetarianism are often promoted as effective measures to reduce our environmental footprint yet few conclusions take full scale behavioral changes into consideration this can be achieved by calculating the indirect environmental rebound effect related to the re spending of expenditure saved during the initial behavioral shift this study aims to quantify the potential energy use and greenhouse gas emission savings and most likely rebound effects related to an average swedish consumer s shift to vegetarianism using household budget survey data it estimates engel curves of 117 consumption goods derives marginal expenditure shares and links these values to environmental intensity indicators results indicate that switching to vegetarianism could save consumers 16 of the energy use and 20 of the greenhouse gas emissions related to their dietary consumption however if they re spend the saved income according to their current preferences they would forego 96 of potential energy savings and 49 of greenhouse gas emission savings these rebound effects are even higher for lower income consumers who tend to re spend on more environmentally intensive goods yet the adverse effect could be tempered by purchasing organic goods or re spending the money on services in order to reduce the environmental impact of consumption it could thus be recommended to not only focus on dietary shifts but rather on the full range of consumer expenditure

economic energy and greenhouse emissions impacts of some consumer choice technology and government outlay options abstract the impacts of selected spending options in the australian economy are determined in terms of energy consumption greenhouse gas emissions and a range of economic parameters six case studies of one current practice and one alternative environmentally motivated spending option are carried out describing consumer choices technologies and government outlays the assessment method is based on input output theory and as such enables both the direct and indirect effects of spending to be quantified in general the results indicate that pro environmental objectives such as reductions in energy consumption and greenhouse gas emissions are compatible with broad socio economic benefits such as increases in employment and income and reductions in imports

local governments indebtedness and its impact on real estate prices this paper estimates the causal effect of public debt on real estate prices and rental prices we identify shocks to debt of self governed cities in germany and control for potential benefits such

employment and other macroeconomic benefits of an innovation led climate strategy for the united states abstract climate protection policy and its analysis are pursued in the context of other societal goals among them the maintenance of economic growth and high employment too often however analysis of energy and climate policy does not realistically reflect technological conditions and the dynamics of technological change this tendency unnecessarily associates the decline in energy consumption or carbon emissions with the decline in national economic output or income but there is ample prima facie evidence to the contrary just as in the 19th century when the perceived need to reduce labor inputs as part of the production process spurred labor saving technological progress now the need to reduce energy and pollution costs could spur innovation and diffusion of efficient and clean energy technologies this in turn can increase overall growth in economic productivity energy technology analysts have identified many such existing and near term commercial technologies as well as innovations that can be foreseen beyond the immediate technological horizon which would become widely used if policies were developed to overcome market and institutional barriers this paper presents a macroeconomic analysis for a set of policies that would induce the adoption of more efficient and low carbon technologies and finds that overall employment and economic output could be increased by small amounts while significantly reducing carbon emissions

valuing school quality better transport and lower crime evidence from house prices housing prices within urban areas exhibit highly localized variation that cannot be explained solely by differences in the physical attributes of dwellings we consider the role of local amenities and disamenities in generating price variation within urban areas focusing on three highly policy relevant urban issues transport accessibility school quality and crime our survey of the recent empirical literature highlights what is known and what is not known on these issues and considers the relevance and reliability of this evidence for policy design and evaluation although there are serious empirical challenges we argue that research on housing values based on careful research designs can offer credible estimates of the social value of place specific attributes and amenities

price maker economic bidding in two settlement pool based markets the case of time shiftable loads in this paper a new scenario based stochastic optimization framework is proposed for price maker economic bidding in day ahead and real time markets the presented methodology is general and can be applied to both demand and supply bids that is no restrictive assumptions are made on the characteristics of the pool and its agents however our focus is on the operation of time shiftable loads with deadlines because they play a central role in creating load flexibility and enhancing demand response and peak load shaving programs both basic and complex time shiftable load types are addressed where the latter includes time shiftable loads that are uninterruptible have per time slot consumption limits or ramp constraints or comprise several smaller time shiftable subloads four innovative analytical steps are presented in order to transform the originally nonlinear and hard to solve price maker economic bidding optimization problem into a tractable mixed integer linear program accordingly the global optimal solutions are found for the price and energy bids within a relatively short amount of computational time a detailed illustrative case study along with multiple case studies based on the california energy market data are presented it is observed that the proposed optimal price maker economic bidding approach outperforms optimal price maker self scheduling as well as even load distribution

factor costs and factor use substitution among urban land and capital inputs in the production of single family housing this paper uses cost functions to test the hypothesis of constancy of the elasticity of substitution among land and capital inputs in the production of single family housing the findings suggest that the substitution parameter varies over the range of the sample the hypothesis of homotheticity in the production is also rejected this implies that the ces and cobb douglas production functions are not suitable for urban housing production modelling the analysis has been carried out by imposing much weaker restrictions as a part of the maintained hypotheses than has been the case in the recent literature

an analysis of the demand for housing attributes this paper uses a two step approach to estimate a system of structural demand equations for housing attributes estimation of a hedonic price regression in the first step yields implicit prices for housing attributes for the toronto metropolitan area in 1978 which are then used to estimate the expenditure share equations derived from the indirect translog utility function empirical results indicate that the composite housing attributes used in the second stage model are own price elastic while an examination of cross price relationships reveals that these attributes are reasonably substitutable

labour productivity and energy intensity in australia 1974 87 an input output analysis abstract energy and labour productivity in australia is examined using the notion of vertical integration in an input output framework results indicate a decline in productivity growth rates during the 1978 1982 period for both energy and labour energy productivity growth was negative during this period the productivity slowdown was pronounced in the natural resource sectors agriculture food products and minerals results indicate that movements in primary input efficiency are positively correlated suggesting that input complementarity may override substitution effects during macroeconomic shocks

the structure of production in urban housing a multi input cost function approach this paper uses a two stage cost function model to analyse substitution possibilities among inputs in the production of urban housing aggregate price indexes for groups of inputs are generated in the first stage and then used in the estimation of the aggregate cost function in the second stage the procedure is valid under the assumption of weak separability the use of flexible functional forms at both stages allowed the analysis to be carried out by imposing fewer restrictions as a part of the maintained hypothesis than has been the case in the previous literature the findings are consistent with the postulates of cost minimising factor demand theory

the effects of a new subway line on housing prices in metropolitan toronto an analysis by means of using the estimation results of a modal choice model and the hedonic price regressions model is conducted in order to identify the effects of a subway line in toronto on the values of housing units the modal choice model is used for the estimation of the direct benefits from the improvement in transportation and the hedonic price equations for the identification of subway effects on housing prices empirical results indicate that the direct savings in commuting costs have been capitalized into housing values