Download This PaperThe External Effects of Place-Based Subsidized Housing
56 Pages Posted: 11 May 2005
Date Written: March 2005
Abstract
Prior research has provided little evidence that subsidized housing investments generate significant external benefits to their neighborhoods. This paper revisits the external effects of subsidized housing, exploring the case of New York City. Relying on geocoded administrative data, we estimate a difference-in-difference specification of a hedonic regression model.
We find significant and sustained external benefits. Spillovers increase with project size, and decrease with distance from the project sites and with the proportion of units in multi-family, rental buildings. Our results are robust to alternative specifications. Some of the benefit appears due to the effect of the replacement of existing disamenity.
Keywords: Development/Revitalization, Externalities, Housing, Neighborhood
JEL Classification: H23, H43, R0
Suggested Citation: Suggested Citation
Ingrid Gould Ellen
New York University (NYU) - Robert F. Wagner Graduate School of Public Service ( email )
The Puck Building
295 Lafayette Street, Second Floor
New York, NY 10012
United States
Ioan Voicu
Office of the Comptroller of the Currency (OCC) ( email )
400 7th Street SW
Washington, DC 20219
United States
Michael H. Schill
University of Chicago - Law School ( email )
1111 E. 60th St.
Chicago, IL 60637
United States
773-702-9495 (Phone)