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The Value of Brownfield Remediation / Kevin Haninger, Lala Ma, Christopher Timmins.
- Format:
- Book
- Author/Creator:
- Haninger, Kevin.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w20296.
- NBER working paper series no. w20296
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2014.
- Summary:
- 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.
- Notes:
- Print version record
- July 2014.
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