The Landlord-Tenant Problem and Energy Efficiency in the Residential Rental Market

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Title: The Landlord-Tenant Problem and Energy Efficiency in the Residential Rental Market
Authors: Petrov, IvanRyan, L. (Lisa B.)
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Date: Oct-2020
Online since: 2020-10-30T15:21:39Z
Abstract: The aim of this paper is to test for the persistence of the landlord-tenant energy e fficiency problem in the residential rental property market in the presence of information on property energy performance. To do this, we compare the efficiency of rental and non-rental properties using a combination of Coarsened Exact Matching (CEM) and parametric regression. We use a sample of 585,578 residential properties in the Republic of Ireland - a region that legally requires rental properties to display energy performance certificates when advertised. The findings suggest that the landlord-tenant problem is present in the Irish rental market but that it is not uniform across locations, indicating the influence of other factors. To explore this further, we exploit the regional variation in rental property prices. We find a larger difference between rental and non-rental properties' energy efficiency in markets with scarcity in rental property supply.
Funding Details: Science Foundation Ireland
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Start page: 1
End page: 56
Series/Report no.: UCD Centre for Economic Research Working Paper Series; WP2020/28
Copyright (published version): 2020 the Authors
Keywords: Energy efficiencyMarket failuresEnergy performance certificate (EPC)Coarsened exact matching (CEM)Residential propertiesInformation asymmetrySplit incentives
metadata.dc.subject.classification: Q40; R20; D12
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Energy Institute Research Collection
Economics Working Papers & Policy Papers

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