中国金融学术研究网

所属栏目：银行与金融机构/房地产金融

DOI号：https://doi.org/10.1111/1540-6229.12473

Alcohol consumption and the value of community

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发布日期：2026年08月23日上次修订日期：2026年08月23日

张笑语 xiaoyuzhang@u.nus.edu 中央财经大学张云齐 zhangyunqi@u.nus.edu 南开大学

摘要

his article investigates the value of access to alcohol consumption by examining housing price changes after a liquor ban that was catalyzed by an unexpected riot in Singapore. The ban restricts alcohol consumption in liquor control zones further than in areas outside such zones. We find that the housing price changes in the liquor control zones were weak, which implies that the utility and disutility of alcohol consumption almost cancel each other out. In contrast, housing prices increased for houses within 800 m of but outside the liquor control zones. We investigate potential explanations for these phenomena.

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关键词：

alcohol ban alcohol consumption amenity housing price spillover

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