The Housing Market Impacts of Shale Gas Development | Zendy

Lucija Muehlenbachs | Zendy; Elisheba Spiller | Zendy; Christopher Timmins | Zendy

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The Housing Market Impacts of Shale Gas Development

Author(s) -

Lucija Muehlenbachs,

Elisheba Spiller,

Christopher Timmins

Publication year - 2015

Publication title -

american economic review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 16.936

H-Index - 297

eISSN - 1944-7981

pISSN - 0002-8282

DOI - 10.1257/aer.20140079

Subject(s) - property value , shale gas , lease , tight gas , payment , natural resource economics , hydraulic fracturing , visibility , direct payments , value (mathematics) , groundwater , oil shale , business , environmental science , economics , petroleum engineering , geology , geography , real estate , computer science , finance , paleontology , machine learning , geotechnical engineering , meteorology

Using data from Pennsylvania and an array of empirical techniques to control for confounding factors, we recover hedonic estimates of property value impacts from nearby shale gas development that vary with water source, well productivity, and visibility. Results indicate large negative impacts on nearby groundwater-dependent homes, while piped-water-dependent homes exhibit smaller positive impacts, suggesting benefits from lease payments. Results have implications for the debate over regulation of shale gas development. (JEL L71, Q35, Q53, R31)

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