No abstract

The literature on home value diminution attributable to environmental degradation and its possible reversal typically ignores indirect effects upon neighborhood characteristics that can exacerbate the overall change in property values, resulting in underestimates of diminution and overestimates of recovery. Furthermore, to the extent that direct price effects and neighborhood transition effects respond differently to remediation efforts, the relatively new postremediation literature misses an important part of the recovery process. This study examines both direct and indirect effects and finds in the case of Houston Environmental Protection Agency Superfund sites that, while the direct value impacts of proximity to toxic waste sites was significantly reduced after remediation, the indirect effects associated with induced demographic changes were much slower to reverse, producing a housing market inertia that stifled full home value recovery. Copyright 2008 American Real Estate and Urban Economics Association

<p class="MsoBodyText" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="font-size: 10pt; mso-bidi-font-weight: bold;"><span style="font-family: Times New Roman;">The purpose of this study is to examine the impact of the continuing trend in the U.S. Airline industry away from hub-and-spoke (network) airlines and toward low-cost airlines. The model of this study examines the level of success which the network carriers may experience by using market segmentation and price discrimination to sustain profitability in the face of the growth in market share held by low-cost carrier airlines. </span></span></p>

No abstract

This study empirically analyses the nonlinear impact of economic activities on ecological balance indicators that estimate the balance between economies' pressure on nature and the biologically productive resources areas affected by human activity and the earth's ecological carrying capacity. In measuring this balance, ecological balance sheet indicators are divided into four sub-components; cropland, forest area, fishing grounds and grazing land. The sample of the study consists of the EU-15 countries over the period 1995-2016. In order to render the study robust with respect to econometric issues like potential endogeneity bias, cross-country heterogeneity, time instability and nonlinearity, the study adopted panel smooth transition regression (PSTR) method. The empirical findings reveal that the economic activities carried out up to a certain threshold level do not force the ecological balance as nature can compensate for the resulting externalities, but beyond this threshold, waste accumulation and pollution exceed nature's capacity to absorb. Consequently, the results of the study are not in line with the expectation of the Environmental Kuznets Curve (EKC) hypothesis with inverted U-shaped curve, but indicate a need for implementation of active environmental policies for the improvement of the environment.