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Estimating the peace dividend: the impact of violence on house prices in Northern Ireland

Besley, Timothy and Mueller, Hannes (2012) Estimating the peace dividend: the impact of violence on house prices in Northern Ireland. American Economic Review, 102 (2). pp. 810-833. ISSN 0002-8282

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Identification Number: 10.1257/aer.102.2.810

Abstract

This article exploits data on the pattern of violence across regions and over time to estimate the impact of the peace process in Northern Ireland on house prices. After establishing a negative correlation between killings and house prices, we estimate the parameters of a Markov switching model with conflict and peace as latent states. We use the model to estimate the size of the peace dividend as captured in house price changes.

Item Type: Article
Official URL: http://www.aeaweb.org/aer/index.php
Additional Information: © 2012 American Economic Association
Subjects: H Social Sciences > HC Economic History and Conditions
Sets: Collections > Economists Online
Departments > Economics
Research centres and groups > Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
Date Deposited: 02 Jul 2012 13:40
Last Modified: 04 Jun 2014 13:26
URI: http://eprints.lse.ac.uk/id/eprint/44575

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