Green signalling effects in the market for energy-efficient residential buildings

Empirical evidence from recent studies suggests that the price premium on energy-efficient buildings is potentially higher than the pure capitalisation of energy savings but the empirical evidence on the size of the non-savings components is scant. This study aims to fill this research gap by investigating whether the mandatory energy efficiency ratings for residential properties imply benefits that go beyond energy savings. Using a sample of several thousand apartment transactions from Helsinki, Finland, we first test if higher ratings were significantly associated with higher prices. In addition to a large number of property and neighbourhood characteristics, this dataset contains information on building-level energy usage which allows us to distinguish between the cost savings effect of energy consumption and the value of more intangible factors associated with the energy label. The hedonic model yields a statistically significant 3.3% price premium for apartments in the top three energy-efficiency categories and 1.5% when a set of detailed neighbourhood characteristics are included. When maintenance costs containing energy usage costs are added, a robust and significant price premium of 1.3% persists whereas no differentiation is found for the medium and lower rating categories. These findings may be indicative of energy-efficient buildings having signalling value – and therefore an additional incentive to invest in such buildings – for ‘green’ consumers. However, a favourable energy rating did not appear to speed up the sales process in the analysed market.RICS Research Trust, Turku School of Economics Support Foundation, Academy of Finland, Marjatta and Eino Kolli Foundation, KIINKO Foundation, Cambridge University Land Society (CULS)This is the author accepted manuscript. The final version is available from Elsevier via http://dx.doi.org/10.1016/j.apenergy.2016.07.07

Depressive symptoms and emotion regulation strategies in children with and without developmental language disorder: a longitudinal study

Background: Depressive symptoms are common in children with developmental language disorder (DLD). However, risk and protective factors contributing to these problems are currently underspecified. Aims: The current longitudinal study examined the role of emotion-regulation (ER) strategies in the severity of depressive symptoms in children with and without DLD, taking into account the severity of communication problems of children with DLD. Methods & Procedures:We followed clinically referred children with DLD (n = 114, 49% girls) and without DLD (n = 214, 58% girls) between the ages of 8 and 16 years across an 18-month period. Participants completed selfreport questionnaires at three time points. Parents of children with DLD reported on their child’s communication problems. Outcomes & Results: Multilevel analyses confirmed higher levels of depressive symptoms in youngsters with DLD compared with peers without DLD, with a decrease across time in the DLD group. In both groups, higher levels of approach and increasing avoidant strategies aimed at distraction or trivializing a problem explained lower depressive symptoms, whereas more worry and externalizing strategies contributed to more depressive symptoms. Within the DLD group, semantic language problems were associated with higher depressive symptoms. However, this relation was mediated by the tendency to worry or use externalizing strategies. Conclusions & Implications: Results suggest that interventions for children with DLD should focus on enhancing their adaptive ER strategies to help them cope with daily stressors just as in the general population