NEIGHBORHOOD DYNAMICS AND PRICE EFFECTS OF SUPERFUND SITE CLEAN-UP
Numerous hedonic price analyses estimate price effects associated with hazardous waste site remediation or other environmental variation. This paper estimates a neighborhood transition model to capture the direct price effect from Superfund site clean-up and the indirect price effects arising from residential sorting and changes in investment in the housing stock following clean-up. First-difference models of neighborhood change and a national sample are used. This approach fails to find consistent positive direct price effects. Positive indirect effects, however, may arise through residential sorting and neighborhood investment spurred by remediation. The findings can be sensitive to policy endogeneity and model specification. Copyright Blackwell Publishing, Inc. 2007
Year of publication: |
2007
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Authors: | Noonan, Douglas S. ; Krupka, Douglas J. ; Baden, Brett M. |
Published in: |
Journal of Regional Science. - Wiley Blackwell, ISSN 0022-4146. - Vol. 47.2007, 4, p. 665-692
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Publisher: |
Wiley Blackwell |
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