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on Energy Economics |
| By: | Jeremy G. Weber; Jason P. Brown; John Pender |
| Abstract: | New technologies for accessing energy resources, changes in global energy markets, and government policies have encouraged growth in the natural gas and wind industries in the 2000s. The growth has offered new opportunities for wealth creation in many rural areas. At a local level, households who own land or mineral rights can benefit from energy development through lease and royalty payments. Using nationally-representative data on U.S. farms from 2011, we assess the consumption, investment, and wealth implications of the $2.3 billion in lease and royalty payments that energy companies paid to farm businesses. We estimate that the savings of current energy payments combined with the effect of payments on land values added $104,000 in wealth for the average recipient farm. |
| Keywords: | Consumption (Economics) - United States ; Households - Economic aspects ; Farms - Valuation |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedkrw:rwp13-07&r=ene |
| By: | Alexander Fink; Thomas Stratmann |
| Abstract: | Did the nuclear catastrophe at Fukushima in March 2011 cause individuals to reappraise the risks they attach to nuclear power plants? We investigate the change in housing prices in the U.S. after the Fukushima event to test the hypothesis that house prices in the proximity of power plants fell due to an updated nuclear risk perception. Using a difference-in-differences approach we do not find evidence in support of the hypothesis that individuals reappraise the risks associated with nuclear power plants. House prices close to nuclear reactor sites did not fall relative to house prices at other locations in the U.S. |
| Keywords: | Fukushima, nuclear accident, hedonic prices, housing, updating |
| JEL: | D80 Q51 R31 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:icr:wpicer:04-2013&r=ene |