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Benefits and ancillary costs of natural infrastructure: Evidence from the New Jersey coast.
- Source :
-
Journal of Environmental Economics & Management . Sep2017, Vol. 85, p62-80. 19p. - Publication Year :
- 2017
-
Abstract
- This paper empirically estimates the economic impacts of a large-scale public investment in natural infrastructure aimed at adapting to climate change and increasing coastal resilience. I utilize temporal and spatial variation in investment in dunes to provide a hedonic property value estimate of the economic benefits. I identify the net effect of treatment utilizing the doubly robust Oaxaca-Blinder estimator and show that coastal housing price increases attributable to constructed dunes are approximately 3.6%. A decomposition of the average impact suggests that the policy intervention generates ancillary costs related to impaired ocean views and privacy concerns that partially offset large protection benefits. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00950696
- Volume :
- 85
- Database :
- Academic Search Index
- Journal :
- Journal of Environmental Economics & Management
- Publication Type :
- Academic Journal
- Accession number :
- 124857332
- Full Text :
- https://doi.org/10.1016/j.jeem.2017.04.008