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Safe and Satisfied? External Effects of Homeownership in RotterdamRuben CoxErasmus University Rotterdam (EUR) - Rotterdam School of Management (RSM) Dirk BrounenErasmus University Rotterdam (EUR) - Department of Financial Management; Erasmus Research Institute of Management (ERIM); Tinbergen Institute Peter NeuteboomErasmus University Rotterdam (EUR) - Department of Financial Management August 1, 2011 Urban Studies, Forthcoming Abstract: We analyse the impact of homeownership on neighbourhood safety and neighbourhood satisfaction, using a unique panel dataset for the city of Rotterdam. Our results show that there are significant, but economically small, effects of homeownership on safety and satisfaction. Moreover, the relation between ownership and satisfaction is significantly moderated by neighbourhood safety. We examine whether the marginal impact of increases in homeownership on external effects diminish once ownership levels are higher. According to our data this seems to be the case. The results are robust to alternative specifications. Our findings provide insights for the evaluation of housing market policies that subsidise or stimulate homeownership.
Number of Pages in PDF File: 39 Keywords: neighbourhood effects, homeownership, residential satisfaction, safety JEL Classification: R23, R28, R30, R38 Accepted Paper SeriesDate posted: May 20, 2011 ; Last revised: October 26, 2011Suggested CitationContact Information
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