The Value of Brownfield Remediation

Kevin Haninger, Lala Ma and Christopher Timmins

No 20296, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The U.S. 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. We find property value increases accompanying cleanup averaging from 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 common conclusion that Brownfields Program cleanups yield positive, statistically significant, but highly-localized effects on housing prices.

JEL-codes: Q51 R11 (search for similar items in EconPapers)
Date: 2014-07
New Economics Papers: this item is included in nep-env and nep-ure
Note: EEE
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Published as Kevin Haninger & Lala Ma & Christopher Timmins, 2017. "The Value of Brownfield Remediation," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 4(1), pages 197-241.

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