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dc.contributor.authorKrupka, Douglas J.en_US
dc.contributor.authorNoonan, Douglas S.en_US
dc.date.accessioned2008-09-05en_US
dc.date.accessioned2010-07-07T11:29:57Z-
dc.date.available2010-07-07T11:29:57Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/34839-
dc.description.abstractThis paper examines the effects of a generous, spatially-targeted economic development policy (the federal Empowerment Zone program) on local neighborhood characteristics and on the neighborhood quality of life, taking into account the interactions amongst the policy, changes in neighborhood demographics and neighborhood housing stock. Urban economic theory posits that housing prices in a small area should increase as quality of life increases, because people will be more willing to pay to live in the area, but these changes in prices and quality of life will also affect the demographics of the population through sorting and the housing stock through reinvestment. Using census block-group-level data, we examine how housing prices respond to the Empowerment Zone policy intervention. Changes in the other dimensions of neighborhood quality (demographics and housing stock characteristics) will also help determine the total, or full effect on housing values of the policy intervention. This paper estimates these direct and indirect effects in a simultaneous equations setting, compares indirect and full effects, and examines the robustness of the effects to alternate estimation strategies. We find strong evidence for substantively large and highly significant direct price effects, while results suggest that the indirect effects are substantively small or even negative.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 3320en_US
dc.subject.jelR0en_US
dc.subject.ddc330en_US
dc.subject.keywordEconomic developmenten_US
dc.subject.keywordempowerment zonesen_US
dc.subject.keywordporperty valuesen_US
dc.subject.keywordhousehold mobilityen_US
dc.subject.keywordsortingen_US
dc.subject.stwWirtschaftssonderzoneen_US
dc.subject.stwRegionalpolitiken_US
dc.subject.stwStadtentwicklungen_US
dc.subject.stwWirkungsanalyseen_US
dc.subject.stwImmobilienpreisen_US
dc.subject.stwWohnungswechselen_US
dc.subject.stwBesitzformwahlen_US
dc.subject.stwWohnstandorten_US
dc.subject.stwUSAen_US
dc.titleEmpowerment zones, neighborhood change and owner occupied housingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn560201087en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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