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Buildings 2017, 7(2), 51; doi:10.3390/buildings7020051

Measuring and Interpreting Urban Externalities in Real-Estate Data: A Spatio-Temporal Difference-in-Differences (STDID) Estimator

1
École supérieure d’aménagement du territoire et de développement régional (ÉSAD), Université Laval, Ville de Québec, QC G1V 0A6, Canada
2
Laboratoire d’Économie de Dijon (LEDi), Université de Bourgogne, 21078 Dijon cedex, France
3
Faculté des sciences de l’administration (FSA), Université Laval, Ville de Québec, QC G1V 0A6, Canada
*
Author to whom correspondence should be addressed.
Received: 24 May 2017 / Revised: 8 June 2017 / Accepted: 13 June 2017 / Published: 16 June 2017
(This article belongs to the Special Issue Real Estate Economics, Management and Investments)
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Abstract

It is now almost impossible to deal with spatial data without considering some explicit specification that captures possible spatial effects. One valuable feature of spatial econometrics models is their decomposition of marginal effects into spatial spillover effect and spatial externalities. Progress in interpreting spatial econometrics models has now been extended to the spatial-panel case. However, little consideration has been given to the possible interpretation of models using spatial data pooled over time. This paper proposes a spatio-temporal difference-in-differences (STDID) estimator to measure the effect of urban externalities, such as transport infrastructures, as revealed through real-estate prices. Based on an empirical application for a new development of commuter trains in the Montreal suburbs, this paper shows how such propositions can help us to better understand and evaluate changes in mass transit systems. View Full-Text
Keywords: spatio-temporal data; spatial econometric; marginal effects; difference-in-differences (DID) estimator; mass transit system spatio-temporal data; spatial econometric; marginal effects; difference-in-differences (DID) estimator; mass transit system
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Dubé, J.; Legros, D.; Thériault, M.; Des Rosiers, F. Measuring and Interpreting Urban Externalities in Real-Estate Data: A Spatio-Temporal Difference-in-Differences (STDID) Estimator. Buildings 2017, 7, 51.

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