Abstract
This study empirically seeks to identify determinants of geographic living-cost differentials among counties in the state of Florida for the year 2003. The heteroskedasticity-corrected ordinary least squares estimates reveal that the cost of living in those counties is an increasing function of population size, per capita income or the percentage of households with an annual income in excess of $100,000, coastal location, and the square of the population density while being unaffected by the unemployment rate.
Highlights
A number of studies have investigated determinants of geographic living-cost differentials in the U.S, including Cebula (1980, 1989); Cebula, Alexander, and Koch (1992); Cobas (1978); Ostrosky (1983); McMahon (1991); Nord (2000); Toma and Cebula (2000); and Kurre (2003)
This study provides updated empirical evidence as to determinants of geographic living-cost differentials (L-CDs)
Since the databases typically used for L-CD research do not include rural areas, this study seeks to add this dimension to L-CD research
Summary
A number of studies have investigated determinants of geographic living-cost differentials in the U.S, including Cebula (1980, 1989); Cebula, Alexander, and Koch (1992); Cobas (1978); Ostrosky (1983); McMahon (1991); Nord (2000); Toma and Cebula (2000); and Kurre (2003). Many of them have included a variable intended to reflect the differential strength of labor unions as between the states where those metropolitan areas are located. This variable has taken the form of either a dummy variable to reflect states with or without “right-to-work” laws or a variable indicating the percentage of each state’s labor force that was unionized. In contrast to most of the related literature to date, this study deals with a larger data set, data for some 67 counties; the present study carries with it the virtues accompanying a larger number of observations
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