http://www.bis.org/cbhub/list/author/author_7286/index.rss Research hub papers by author Jeffrey P. Cohen en http://research.stlouisfed.org/wp/2014/2014-050.pdf St Louis Fed Working Papers by Jeffrey P. Cohen, Cletus C. Coughlin, and John M. Clapp Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels 2014-12-13T06:19:59Z We estimate location values for single family houses by local polynomial regressions (LPR), a semi-parametric procedure, using a standard housing price and characteristics dataset. As a logical extension of the LPR method, we interpolate land values for every property in every year and validate the accuracy of the interpolated estimates with an out-of-sample forecasting approach using Denver sales during 2003 through 2010. We also compare the LPR and OLS models out-of-sample and determine that the LPR model is more efficient at predicting location values. In a balanced panel application, we use GMM estimation to examine how the location value estimates are affected by airport infrastructure investments. Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels 2014-12-13T06:19:59Z Abstract http://research.stlouisfed.org/wp/more/2014-050 Full text http://research.stlouisfed.org/wp/more/2014-050/ Cletus C. Coughlin John M. Clapp Jeffrey P. Cohen Jeffrey P. Cohen, Cletus C. Coughlin, and John M. Clapp 2014-12 St Louis Fed Working Papers C14 H41 H54 R51 R53 http://research.stlouisfed.org/wp/more/2014-050/ St Louis Fed Working Papers by Jeffrey P. Cohen, Cletus C. Coughlin and John M. Clapp Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels 2014-12-13T06:19:59Z We estimate location values for single family houses by local polynomial regressions (LPR), a semi-parametric procedure, using a standard housing price and characteristics dataset. As a logical extension of the LPR method, we interpolate land values for every property in every year and validate the accuracy of the interpolated estimates with an out-of-sample forecasting approach using Denver sales during 2003 through 2010. We also compare the LPR and OLS models out-of-sample and determine that the LPR model is more efficient at predicting location values. In a balanced panel application, we use GMM estimation to examine how the location value estimates are affected by airport infrastructure investments. Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels 2014-12-13T06:19:59Z Abstract http://research.stlouisfed.org/wp/more/2014-050 Full text http://research.stlouisfed.org/wp/2014/2014-050.pdf Cletus C. Coughlin John M. Clapp Jeffrey P. Cohen Jeffrey P. Cohen, Cletus C. Coughlin and John M. Clapp 2014-12 St Louis Fed Working Papers C14 H41 H54 R51 R53 http://research.stlouisfed.org/wp/2009/2009-058.pdf St Louis Fed Working Papers by Jeffrey P. Cohen, and Cletus C. Coughlin Spatial Heterogeneity and the Geographic Distribution of Airport Noise 2009-12-16T07:16:00Z One might expect that houses closer to an airport and those in higher minority population neighborhoods experience more airport noise. We find evidence supporting these conjectures when estimating a standard ordered probit model for houses sold near the Atlanta airport. However, because the various neighborhood demographics surrounding the airport can be heterogeneous, and the noise contours are not necessarily correlated with distance in certain neighborhoods, we hypothesize that the impacts of explanatory variables on the probability of greater noise vary across space. We explore spatial heterogeneity by estimating ordered probit locally weighted regressions (OPLWR). These results differ from those using a standard ordered probit model. Moreover, we find notable differences in parameter estimates for different observations (i.e., houses). Even in relatively small areas, our results imply that the standard ordered probit model can generate biased estimates. Spatial Heterogeneity and the Geographic Distribution of Airport Noise 2009-12-16T07:16:00Z Abstract http://research.stlouisfed.org/wp/more/2009-058/ Full text http://research.stlouisfed.org/wp/2009/2009-058.pdf Jeffrey P. Cohen Cletus C. Coughlin Jeffrey P. Cohen, and Cletus C. Coughlin 2009-11 St Louis Fed Working Papers http://research.stlouisfed.org/wp/2006/2006-026.pdf St Louis Fed Working Papers by Jeffrey P. Cohen, and Cletus C. Coughlin Spatial Hedonic Models of Airport Noise, Proximity, and Housing Prices 2006-04-25T09:09:59Z Spatial Hedonic Models of Airport Noise, Proximity, and Housing Prices 2006-04-25T09:09:59Z Full text http://research.stlouisfed.org/wp/2006/2006-026.pdf Jeffrey P. Cohen Cletus C. Coughlin Jeffrey P. Cohen, and Cletus C. Coughlin 2006-04 St Louis Fed Working Papers http://research.stlouisfed.org/wp/2005/2005-060.pdf St Louis Fed Working Papers by Jeffrey P. Cohen, and Cletus C. Coughlin Airport-Related Noise, Proximity, and Housing Prices in Atlanta 2005-08-17T18:11:59Z Airport-Related Noise, Proximity, and Housing Prices in Atlanta 2005-08-17T18:11:59Z Full text http://research.stlouisfed.org/wp/2005/2005-060.pdf Jeffrey P. Cohen Cletus C. Coughlin Jeffrey P. Cohen, and Cletus C. Coughlin 2005-08 St Louis Fed Working Papers L93 Q51 Q53 R31