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Do Housing Prices Reflect Environmental Health Risks? Evidence from More than 1600 Toxic Plant Openings and Closings / Janet Currie, Lucas Davis, Michael Greenstone, Reed Walker.
- Format:
- Book
- Author/Creator:
- Currie, Janet.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w18700.
- NBER working paper series no. w18700
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Do Housing Prices Reflect Environmental Health Risks?
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2013.
- Summary:
- A ubiquitous and largely unquestioned assumption in studies of housing markets is that there is perfect information about local amenities. This paper measures the housing market and health impacts of 1,600 openings and closings of industrial plants that emit toxic pollutants. We find that housing values within one mile decrease by 1.5 percent when plants open, and increase by 1.5 percent when plants close. This implies an aggregate loss in housing values per plant of about $1.5 million. While the housing value impacts are concentrated within 1/2 mile, we find statistically significant infant health impacts up to one mile away.
- Notes:
- Print version record
- January 2013.
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