The University of Southampton
University of Southampton Institutional Repository

Implicit amenity prices and the location of retirees in England and Wales

Implicit amenity prices and the location of retirees in England and Wales
Implicit amenity prices and the location of retirees in England and Wales
General equilibrium models in which compensation for local amenities occurs in both housing and labour markets have been widely used to generate implicit amenity prices and regional quality of life indices. An implication and prospective test of such models is that individuals who are outside the labour market have an incentive to locate in regions where amenities are capitalized into wages. In this article we construct a measure of the extent of amenity capitalization into wages for each county in England and Wales. We then test the multimarket amenity model by applying this measure to county-level data on the location of retirees. Our results provide strong support for the model.
1350-4851
1466-4291
Stewart, Geoff
a94573f3-bb92-416f-ba18-3c6272224d18
Lee, J.
4b45ec6a-e52e-415c-acb7-7cb17ed57cbe
Stewart, Geoff
a94573f3-bb92-416f-ba18-3c6272224d18
Lee, J.
4b45ec6a-e52e-415c-acb7-7cb17ed57cbe

Stewart, Geoff and Lee, J. (2009) Implicit amenity prices and the location of retirees in England and Wales. Applied Economics Letters, 1466-4291.

Record type: Article

Abstract

General equilibrium models in which compensation for local amenities occurs in both housing and labour markets have been widely used to generate implicit amenity prices and regional quality of life indices. An implication and prospective test of such models is that individuals who are outside the labour market have an incentive to locate in regions where amenities are capitalized into wages. In this article we construct a measure of the extent of amenity capitalization into wages for each county in England and Wales. We then test the multimarket amenity model by applying this measure to county-level data on the location of retirees. Our results provide strong support for the model.

Text
Retirees-AEL-revised.pdf - Author's Original
Download (43kB)

More information

Published date: 15 May 2009

Identifiers

Local EPrints ID: 155739
URI: http://eprints.soton.ac.uk/id/eprint/155739
ISSN: 1350-4851
PURE UUID: 35837fb4-c6d5-4073-a423-cc3b8f9bab0b

Catalogue record

Date deposited: 28 May 2010 13:35
Last modified: 14 Mar 2024 01:40

Export record

Contributors

Author: Geoff Stewart
Author: J. Lee

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×