KTH/CESIS Working Paper Series in Economics and Institutions of Innovation
RETAIL CITY: Does accessibility to shops explain place attractiveness?
Abstract: This paper explores the role of retail as an amenity and
how it contributes to place attractiveness. In this investigation the
impact of accessibility to shops on average house prices is investigated
using a fixed effect estimation. The analysis use data for Swedish
municipalities through the years 2002-2008. The empirical design is
constructed using the across-cities spatial equilibrium framework of Roback
(1982), and house prices are assumed to reflect the attractiveness of
municipalities. In order to capture the precise impact from retail access,
mean wages, population density, unemployment, leisure service
concentration, and municipal tax levels are controlled for. Results
indicate a strong relationship between retail access and place
attractiveness, where a retail-premium on house prices is found to be
present for Swedish municipalities.
Keywords: Urban amenities; housing market; retail sector; (follow links to similar papers)
JEL-Codes: L81; O18; P25; (follow links to similar papers)
22 pages, December 9, 2013
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