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The IOC's Midas Touch: Summer Olympics and City Growth
In: CESifo Working Paper Series No. 4378
SSRN
Ease vs. Noise: On the Conflicting Effects of Transportation Infrastructure
In: CESifo Working Paper Series No. 6058
SSRN
Working paper
Game of Zones: The Political Economy of Conservation Areas
In: The economic journal: the journal of the Royal Economic Society, Band 127, Heft 605, S. F421-F445
ISSN: 1468-0297
Game of Zones: The Political Economy of Conservation Areas
Provided there are positive external benefits attached to the historic character of buildings, owners of properties in designated conservation areas benefit from a reduction in uncertainty regarding the future of their area. At the same time, the restrictions put in place to ensure the preservation of the historic character limit the degree to which properties can be altered and thus impose a cost to their owners. We test a simple theory of the designation process in which we postulate that the level of designation is chosen to comply with interests of local homeowners. The implication of the model is that a) an increase in preferences for historic character should increase the likelihood of a designation, and b) new designations at the margin should not be associated with significant house price capitalization effects. Our empirical results are in line with these predictions.
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Game of Zones: The Political Economy of Conservation Areas
In: CESifo Working Paper Series No. 4755
SSRN
Working paper
Game of zones: the political economy of conservation areas
In: CESifo working paper series 4755
In: Public choice
Provided there are positive external benefits attached to the historic character of buildings, owners of properties in designated conservation areas benefit from a reduction in uncertainty regarding the future of their area. At the same time, the restrictions put in place to ensure the preservation of the historic character limit the degree to which properties can be altered and thus impose a cost to their owners. We test a simple theory of the designation process in which we postulate that the level of designation is chosen to comply with interests of local homeowners. The implication of the model is that a) an increase in preferences for historic character should increase the likelihood of a designation, and b) new designations at the margin should not be associated with significant house price capitalization effects. Our empirical results are in line with these predictions.