Place-based policies and the housing market

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Abstract

—We study the economic effects of place-based policies in the housing market, by investigating the effects of a place-based program on prices of surrounding owner-occupied properties. The program improved the quality of public housing in 83 impoverished neighborhoods through-out the Netherlands. We combine a first-difference approach with a fuzzy regression-discontinuity design to address the fundamental issue that these neighborhoods are endogenously treated. Improvements in public housing induced surrounding housing prices to increase by 3.5%. The program’s external benefits are sizable and at least half of the value of investments in public housing.

Original languageEnglish
Pages (from-to)400-414
Number of pages15
JournalReview of Economics and Statistics
Volume101
Issue number3
Early online date28 Jun 2019
DOIs
Publication statusPublished - Jul 2019

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