ABSTRACT
While curbing the spread of Coronavirus Disease 2019 (COVID-19), lockdown policies and "stay-at-home" restrictions caused massive supply chain disruptions worldwide. This led to breaks in spatial market integration, which could further lead to market inefficiency and resource misallocation. Taking daily price data from 2016 to 2021, this study investigates COVID-19's effect on the spatial market integration of fish in China using cointegration tests. We find a high degree of spatial market integration for fish in China before the COVID-19 pandemic. Further, our results show that COVID-19's effect on the spatial market integration of fish varies spatially in China. Specifically, COVID-19 reduces the degree of spatial market integration in most provinces, especially those with high infection rates. Meanwhile, the degree of spatial market integration in provinces with low infection rates remains high. Therefore, the government should be regionally specific when formulating market recovery policies.
ABSTRACT
In this article, we investigate the impact of wildfire on property values in wildland-urban intermix (WUIM) and wildland-urban interface (WUIF) in Colorado. We construct fire indices accounting for the nonlinear impact of wildfires, and evaluate the effects of different fire attributes-proximity, frequency, and scale-on property values in a hedonic price framework using housing transactions data and wildfire data in Colorado from 2000 to 2016. We find a substantial difference in the impact of wildfires on property values between WUIM and WUIF. Specifically, larger fires depreciate property values in WUIM, but increase property values in WUIF. In addition, we find that small fires lead to a negative impact on property values in both WUIM and WUIF, which is comparable with larger fires. Our findings provide policymakers novel information in making more efficient wildfire management plans.
