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Abstract Air pollution is widely believed to cause healthy risks and influence nations' economic dimensions. This paper investigates the impact of air pollution on housing prices in China's 286 prefectural-level cities during 2005–2013. To address the endogeneity problem of PM 2.5 concentrations in our regression, we propose an instrument variable strategy based on ventilation coefficient. The estimation results suggest that a 10% increase in PM 2.5 concentrations causes a 2.4% reduction in local housing prices. Air pollution also hinders the progress of urbanization, limits cities' human capital formation and changes people's expectations of housing prices that we interpret as three potential mechanisms behind our main findings. [ABSTRACT FROM AUTHOR]

Abstract: By means of computational fluid dynamic (CFD) simulations, this paper investigated how rural winds transport relatively clean air into high-rise urban areas to dilute airborne pollutants. Two ventilation concepts for indoor environments were applied: the age of air to quantify the time taken by rural young air to reach a given place after it enters an urban area and the air exchange efficiency to evaluate the efficiency of rural winds flushing the entire urban canopy layer. Several square building arrays with street aspect ratios (building height/street width, H/W) ranging from 1.5 to 5.3 and building area densities of 0.25 (medium) or 0.4 (compact) were considered as the approaching wind is parallel to the main street whose length varies from street scales to neighborhood scales (330–510 m to 1.03–1.65 km in full-scale). Results show that considerable young rural air enters windward entries but a major fraction of air is vertically driven out as flowing deeper into such high-rise building arrays. So air exchange efficiencies are less than 50% in street-scale arrays, and smaller in longer (neighborhood-scale) or narrower arrays. For the neighborhood-scale medium arrays, considering the power-law velocity profile in the upstream free flow, a taller array gains a larger inflow rate across its windward entry and experiences younger air and greater air exchange efficiency than a lower one. If all buildings are theoretically open-based in a neighborhood-scale compact array, air becomes much younger everywhere and the air exchange efficiency doubles. In arrays of buildings with different heights, the secondary streets in front of taller buildings get younger air due to the downward flows within them. Although further investigations are still required before providing a practical framework, this paper is one of the first attempts to find ways in improving the ventilation performance in high-rise cities like Hong Kong. [Copyright &y& Elsevier]