The Value of Brownfield Remediation /
The U.S. Environmental Protection Agency Brownfields Program awards grants to redevelop contaminated lands known as brownfields. This paper estimates cleanup benefits by combining administrative records for a nationally representative sample of brownfields with high-resolution, high-frequency housin...
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- Sprache:
- Englisch
- Veröffentlicht:
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Cambridge, Mass.
National Bureau of Economic Research
2014.
- Zusammenfassung:
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The U.S. Environmental Protection Agency Brownfields Program awards grants to redevelop contaminated lands known as brownfields. This paper estimates cleanup benefits by combining administrative records for a nationally representative sample of brownfields with high-resolution, high-frequency housing data. We find property value increases accompanying cleanup averaging from 5.0% to 11.5%; for a welfare interpretation that does not rely on the intertemporal stability of the hedonic price function, a double-difference matching estimator finds even larger effects of up to 15.2%. Our various specifications lead to the common conclusion that Brownfields Program cleanups yield positive, statistically significant, but highly-localized effects on housing prices.
- Umfang:
- 1 online resource: illustrations (black and white);
- Anmerkungen:
- July 2014.
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