Panel Results: Simplified and Qualitative View Models for Connecticut
Sample | CTCG2 Matcheda | CTCG2 Matched | CTCG1 Matched | CTCG2 Matched | CTCG3 Matched |
---|---|---|---|---|---|
Model | Simplified (No Waterfront) | Convenient | Qualitative View | Qualitative View | Qualitative View |
Outcome | Ln(price) | ||||
Flood zone (SFHA) | −0.0283* | −0.0140 | −0.0161 | −0.0304* | 0.000424 |
(0.0110) | (0.0145) | (0.00975) | (0.0114) | (0.0209) | |
Ln (ocean view area) | −0.00816* | ||||
(0.00373) | |||||
Ln (ocean view angle) | 0.0974*** | ||||
(0.00950) | |||||
Ocean viewshed slice no. | −0.00640** | ||||
(0.00200) | |||||
Ln (ocean view distance) | −0.0502*** | ||||
(0.0137) | |||||
Ocean view category 1 | 0.421*** | 0.525*** | 0.437*** | ||
(0.0472) | (0.0323) | (0.0773) | |||
Ocean view category 2 | 0.365*** | 0.409*** | 0.393*** | ||
(0.0366) | (0.0277) | (0.0504) | |||
Ocean view category 3 | 0.246*** | 0.263*** | 0.223*** | ||
(0.0497) | (0.0429) | (0.0448) | |||
Ocean view category 4 | 0.0735*** | 0.0773** | 0.0922*** | ||
(0.0159) | (0.0263) | (0.0208) | |||
Ln (distance to coastline) | −0.0397* | −0.112*** | −0.138*** | −0.0473* | −0.129*** |
(0.0194) | (0.0245) | (0.0184) | (0.0196) | (0.0184) | |
Month fixed effects | Yes | Yes | Yes | Yes | Yes |
Year-quarter fixed effects | Yes | Yes | Yes | Yes | Yes |
Census tract by year | Yes | Yes | Yes | Yes | Yes |
R-squared | 0.836 | 0.805 | 0.900 | 0.833 | 0.769 |
Observations in SFHA | 3,024 | 3,024 | 4,867 | 3,024 | 2,394 |
Observations outside SFHA | 2,262 | 2,342 | 3,041 | 2,262 | 1,553 |
Observations | 5,286 | 5,366 | 7,908 | 5,286 | 3,947 |
Note: Standard errors are in parentheses. Robust standard errors clustered by census tract are reported. CTCG = county groups; SFHA = special flood hazard area.
↵a The matching process required exact match on transaction year. In addition, this one-on-one-with-replacement matching also requires exact matching on coastal proximity bands (three bands defined coastal proximity percentiles), neighborhood category, and mortgage status. Note that the matching process in the convenient models do not involve ocean view variables.
+ p < 0.1;
↵* p < 0.05;
↵** p < 0.01;
↵*** p < 0.001.