Articlegreen2009

Estimating the Peace Dividend: The Impact of Violence on House Prices in Northern Ireland

191 citations0/0 files storedAmerican Economic Review

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Housing Market and Economics Economics of Agriculture and Food Markets Irish and British Studies

Abstract

This article exploits data on the pattern of violence across regions and over time to estimate the impact of the peace process in Northern Ireland on house prices. After establishing a negative correlation between killings and house prices, we estimate the parameters of a Markov switching model with conflict and peace as latent states. We use the model to estimate the size of the peace dividend as captured in house price changes. (JEL D74, R23, R31)

Citations in this library

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References

1989A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle 2003The Economic Costs of Conflict: A Case Study of the Basque Country 1999Do Better Schools Matter? Parental Valuation of Elementary Education 2002How Much War Will we see?2001A Survey of House Price Hedonic Studies of the Impact of Environmental Externalities 2004The Costs of Urban Property Crime 2008The life satisfaction approach to valuing public goods: The case of terrorism 1995Turning Points in the Civil War: Views from the Greenback Market

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