The value of brownfield remediation

Kevin Haninger, Lala Ma, Christopher Timmins

Research output: Contribution to journalArticlepeer-review

82 Scopus citations

Abstract

The US Environmental Protection Agency Brownfields Program awards grants to redevelop contaminated lands known as brownfields. This paper estimates cleanup benefits by combining administrative records for a nationally representative sample of brownfields with high-resolution, high-frequency housing data. With cleanup, we find that property values increase by an average of 5.0% to 11.5%. For a welfare interpretation that does not rely on the intertemporal stability of the hedonic price function, a double-difference matching estimator finds even larger effects of up to 15.2%. Our various specifications lead to the consistent conclusion that Brownfields Program cleanups yield positive, statistically significant, but highly localized effects on housing prices.

Original languageEnglish
Pages (from-to)197-241
Number of pages45
JournalJournal of the Association of Environmental and Resource Economists
Volume4
Issue number1
DOIs
StatePublished - Mar 1 2017

Bibliographical note

Publisher Copyright:
© 2017 by The Association of Environmental and Resource Economists. All rights reserved.

Keywords

  • Brownfields
  • Difference in differences
  • Nearest neighbor matching
  • Property value hedonics

ASJC Scopus subject areas

  • Economics and Econometrics
  • Nature and Landscape Conservation
  • Management, Monitoring, Policy and Law

Fingerprint

Dive into the research topics of 'The value of brownfield remediation'. Together they form a unique fingerprint.

Cite this