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Climate change and asset prices: hedonic estimates for North American ski resorts
We use a hedonic framework to estimate and simulate the impact of global warming on real estate prices at North American ski resorts. To do so, we combine data on resort-area housing prices from two sources--data on average prices for U.S. Census tracts across a broad swath of the western U.S. and data on individual home sales for four markets in the western U.S. and Canada, each available over multiple decades--with detailed weather data and characteristics of ski resorts in those areas. Our OLS and fixed-effects models of changes in house prices with respect to medium-run changes in the ...
Regional variation in the potential economic effects of climate change
This Economic Letter overviews some recent research into the geographic variation in the potential economic impact of climate warming in North America.