Speed 2.0: Evaluating Access to Universal Digital Highways
Speed 2.0: Evaluating Access to Universal Digital Highways
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DOI：
10.2139/ssrn.2492234
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发表时间：
2014-09
期刊：
影响因子：
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通讯作者：
Gabriel M. Ahlfeldt;Pantelis Koutroumpis;T. Valletti
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文献类型：
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作者：
Gabriel M. Ahlfeldt;Pantelis Koutroumpis;T. Valletti
本文表明，有机会获得一个快速的互联网连接是一个重要的决定因素的资本化效应在房地产市场。我们的实证策略结合了边界不连续性设计与控制的时不变的影响和任意的宏观经济冲击在一个非常本地的水平，以确定的因果关系的影响，宽带速度对房地产价格的变化，是合理的外生。将这一策略应用于1995年至2010年英国的微观数据集，我们发现了显着的积极影响，但速度的回报递减。我们的研究结果意味着，将普通房产与高速第一代宽带连接（提供高达8 Mbit/s的互联网速度）断开，其价值将贬值2.8%。相比之下，将这样的房产升级到更快的连接（提供高达24 Mbit/s的速度）将使其价值增加不超过1%。我们通过收入和城市化分解这种影响，发现相当大的异质性。这些估计用于评估普遍提供快速宽带的拟议计划。我们发现，在城市和一些郊区，提高速度和连接未得到服务的家庭通过了成本效益测试，而在农村地区普及服务的情况并不那么强。
This paper shows that having access to a fast Internet connection is an important determinant of capitalization effects in property markets. Our empirical strategy combines a boundary discontinuity design with controls for time-invariant effects and arbitrary macro-economic shocks at a very local level to identify the causal effect of broadband speed on property prices from variation that is plausibly exogenous. Applying this strategy to a micro data set from England between 1995 and 2010 we find a significantly positive effect, but diminishing returns to speed. Our results imply that disconnecting an average property from a high-speed first-generation broadband connection (offering Internet speed up to 8 Mbit/s) would depreciate its value by 2.8%. In contrast, upgrading such a property to a faster connection (offering speeds up to 24 Mbit/s) would increase its value by no more than 1%. We decompose this effect by income and urbanization, finding considerable heterogeneity. These estimates are used to evaluate proposed plans to deliver fast broadband universally. We find that increasing speed and connecting unserved households passes a cost-benefit test in urban and some suburban areas, while the case for universal delivery in rural areas is not as strong.