Kiel Working Papers, Kiel Institute for World Economics
No 1857:
Distant Event, Local Effects? Fukushima and the German Housing Market
Thomas K. Bauer, Sebastian Braun and Michael Kvasnicka
Abstract: The Fukushima Daiichi accident in Japan in March 2011
caused a fundamental change in Germany's energy policy which led to the
immediate shut down of nearly half of its nuclear power plants. This paper
uses data from Germany's largest internet platform for real estate to
investigate the effect of Fukushima on the German housing market. Using a
difference-in-differences approach, we find that Fukushima reduced house
prices near nuclear power plants that were in operation before Fukushima by
almost 6%. House prices near sites that were shut down right after the
accident even fell by 10.8%. Our results suggest that economic reasons are
of prime importance for the observed fall in house prices near nuclear
power plants
Keywords: Fukushima,Nuclear Power Plants,Housing Prices,Germany; (follow links to similar papers)
JEL-Codes: R31,; Q48,; Q58; (follow links to similar papers)
23 pages, July 2013
Before downloading any of the electronic versions below
you should read our statement on
copyright.
Download GhostScript
for viewing Postscript files and the
Acrobat Reader for viewing and printing pdf files.
Downloadable files:
KWP%201857.pdf 
Download Statistics
Report other problems with accessing this service to Sune Karlsson ()
or Helena Lundin ().
Programing by
Design Joakim Ekebom
