Kiel Working Papers, Kiel Institute for World Economics
No 1828:
The rich, the clean, and the kind - a comprehensive wealth index for cities applied to the case of Germany
Dovern Jonas, Quaas Martin and Wilfried Rickels
Abstract: We develop a comprehensive wealth index for cities that
measures their endowment with environmental, energy, social, human, and
economic capital stocks. We apply this index to the 100 largest autonomous
cities in Germany. We find that (i) a good economic performance does not
need to come at the cost of environmental degradation; (ii) clear regional
differences exist between West and East Germany and between North and South
Germany; and (iii) social preferences reflected in the comprehensive wealth
index account for roughly half of the variation in housing rents, which
reflect individual willingness to pay for living in a certain city
Keywords: comprehensive wealth, city, social preferences; (follow links to similar papers)
JEL-Codes: Q56,; R11; (follow links to similar papers)
41 pages, February 2013
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