Measuring environmental (dis)amenity value during a pandemic: Early evidence from Maryland
研究新冠疫情居家令如何改变巴尔的摩都市区家庭对主干道和开放空间等环境舒适性的价值评估，发现主干道附近房价资本化效应发生变化，而开放空间价值未变。
With the outbreak of COVID-19 and the implementation of stay-at-home (SAH) orders aimed to mitigate its spread, households became less mobile and sheltered in place. This behavior has potential implications for how households' value environmental (dis)amenities, especially those that are underutilized during the pandemic. In this paper, we explore changes in the valuation of two prominent environmental (dis)amenities - major roadway and open space proximity - by households within the Baltimore metropolitan region. We find evidence that the housing price capitalization of immediate major roadway proximity changes due to the SAH order and associated policies that impact economic activity, suggesting a shift in household perceptions, while there is no evidence of open space valuation changes. These results may have significant implications for homeowner welfare if the altered capitalization of environmental (dis)amenities is temporary due to the SAH order.