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UID:270b91295c0e3b529a560a72c50057b8
CATEGORIES:Seminars
CREATED:20150211T145047
SUMMARY:Tommaso Valletti - Imperial College London
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Speed 2.0 Evaluating access to universal digital highways\nAbstract:\nThis 
 paper shows that having access to a fast Internet connection is an importan
 t determinant of capitalization effects in property markets. We combine mic
 rodata on property prices in England between 1995 and 2010 with local avail
 ability of Internet broadband connections. Rich variation in internet speed
  over space and time allows us to estimate the causal effect of broadband s
 peed on property prices. We find a significantly positive effect, but dimin
 ishing returns to speed. Our results imply that an upgrade from narrowband 
 to a high-speed first-generation broadband connection (offering Internet sp
 eed up to 8 Mbit/s) could increase the price of an average property by as m
 uch as 2.8%. A further increase to a faster connection (offering speeds up 
 to 24 Mbit/s) leads to an incremental price effect of an additional 1%. We 
 decompose this effect by income and urbanization, finding considerable hete
 rogeneity. These estimates are used to evaluate proposed plans to deliver f
 ast broadband universally. We find that increasing speed and connecting uns
 erved households passes a cost-benefit test in urban and some suburban area
 s, while the case for universal delivery in rural areas is not as strong.\n
DTSTAMP:20260421T164620Z
DTSTART:20141009T173000Z
DTEND:20141009T190000Z
SEQUENCE:0
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