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. Author manuscript; available in PMC: 2023 Feb 1.
Published in final edited form as: Land Econ. 2022 Feb 1;98(2):191–218. doi: 10.3368/le.98.2.050120-0062r1

Table III.

Variance-Adjusted Cluster (VAC) Weighted Least Squares (WLS) Meta-regression Results.

VARIABLESa (1) (2) (3) (4) (5) (6)
Waterfronta 0.1457***
(0.046)		 0.0170
(0.023)		 −0.0677
(0.052)		 0.1010**
(0.039)		 −0.1126
(0.086)		 0.1251***
(0.042)
Midwesta −0.1056
(0.087)		 −0.1488*
(0.082)		 −0.2059
(0.132)		 −0.2561***
(0.096)		 −0.3156***
(0.116)
Southa −0.2248***
(0.076)		 −0.2797***
(0.084)		 −0.3209*
(0.171)		 −0.2889***
(0.108)		 −0.3945***
(0.131)
Westa −0.1803
(0.120)		 −0.1803
(0.121)		 −0.1747
(0.147)		 −0.3745**
(0.180)		 −0.3772**
(0.174)
Estuarya −0.0401**
(0.016)		 −0.1223***
(0.039)
Waterfront × estuary 0.1274**
(0.055)		 0.1721*
(0.088)
Mean clarity 0.0375
(0.030)		 0.0799**
(0.035)
Waterfront × mean clarity −0.0684**
(0.029)		 −0.1061**
(0.050)
Elasticity variance 8.97E-07***
(1.52E-07)		 6.26E-07**
(2.56E-07)		 6.26E-07**
(2.57E-07)		 5.10E-07
(3.30E-07)		 6.02E-07**
(2.56E-07)		 5.02E-07
(3.65E-07)
Time trend 0.0183***
(0.006)		 0.0223***
(0.006)
Linear-loga 0.1973
(0.161)		 0.1987
(0.159)
Lineara 0.2198**
(0.086)		 0.1159
(0.083)
Log-lineara −0.0020
(0.008)		 −0.0059
(0.008)
Constant 0.0414*
(0.021)		 0.2474***
(0.077)		 0.3320***
(0.090)		 0.3092*
(0.182)		 0.1681
(0.122)		 0.0493
(0.180)
Observations 260 260 260 260 260 260
Adjusted R-squared 0.080 0.148 0.148 0.156 0.170 0.176

Dependent variable: home price elasticity with respect to water clarity (Secchi disk depth).

***

p<0.01,

**

p<0.05,

*

p<0.1.

Clustered-robust standard errors in parentheses; clustered according to the K=66 study-housing market combinations. Weighted least squares regressions estimated using the “regress” routine in Stata 16 and defining analytical weights equal to the VAC weights (see equation 3 in section 2).

(a)

Denotes independent variables that are dummy variables.