• Graduate program
    • Why Tinbergen Institute?
    • Program Structure
    • Courses
    • Course Registration
    • Recent PhD Placements
    • Facilities
    • Admissions
  • Research
  • News
  • Events
    • Summer School
      • Crash Course in Experimental Economics
      • Introduction in Genome-Wide Data Analysis
      • Research on Productivity, Trade, and Growth
      • Econometric Methods for Forecasting and Data Science
  • Times

Koster, H. and Rouwendal, J. (2017). Historic amenities and housing externalities: Evidence from the Netherlands. Economic Journal, 127(605):F396-F420.

  • Journal
    Economic Journal

We study the economic effects of public investments in historic amenities by looking at their impact on house prices. We distinguish between direct and indirect effects of investments. A nationwide housing transaction is used as well as data on investments in cultural heritage. A 1 million euro per square kilometre increase in investments in cultural heritage leads to a price increase of 1.5–3.0{%} of non-targeted buildings. We do not find evidence that the maintenance state of non-eligible properties is improved, suggesting that any price effect due to investments in cultural heritage is a direct effect of investments.