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Accounting and Finance Department Research Seminar

When: Friday, December 3, 2021
10:00 AM - 11:15 AM
Where: > See description for location
Description: Subject: Accounting and Finance Department Research Seminar
The Accounting and Finance Department announces the following research seminar.
Speaker: Assistant Professor. Yoshiki Shimizu (University of Minnesota Duluth)

Title: Crime Rates and Housing Prices: An Analysis Using Quantile Regression and Spatial Autocorrelation

Date: Friday, December 3, 2021
Time: 10:00-11:15 AM
Location: via Zoom Meeting
Meeting ID: See below
Passcode: See below

Abstract: Crime is a disamenity, so buyers should be willing to pay more for a house (all else equal) in a low crime area. However the extant empirical studies provide only weak support for this notion. This result may in part be due to the substantial econometric issues and the multitude of other factors that drive house prices. This study examines the link between crime rates and prices of residential housing. Our data begin in 2008 and end in 2020 for the City Of Seattle, Washington, including all reported felonies (756,304), all recorded residential real estate transactions (79,094) including property characteristics, demographic data from 2008 to 2020 and the corresponding changes. We show that increased crime rates depress housing prices, but the impact is relatively small and becomes even smaller when we incorporate spatial autocorrelation, which we demonstrate generates a significant improvement in the hedonic pricing models. Furthermore, from our quantile regression estimates, we find that the negative impact of crime is stronger for lower priced housing.

For additional information, please contact Prof. Hongkang Xu at
Contact: > See Description for contact information
Topical Areas: Faculty, Students, Accounting and Finance