July, 2015

U.S. housing prices and the Fukushima nuclear accident

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Did the nuclear catastrophe at Fukushima in March 2011 cause individuals to reappraise the risks they attach to nuclear power plants? We investigate the change in home prices in the U.S. after the Fukushima event to test the hypothesis that home prices in the proximity of power plants fell due to an updated nuclear risk perception. Using a difference-in-differences approach, we do not find evidence in support of the hypothesis that individuals reappraised the risks associated with nuclear power plants. According to our results home prices close to nuclear reactor sites did not fall relative to home prices at other locations in the U.S.

Find the article on Science Direct