Disparities in Pollution Capitalization Rates: The Role of Direct and Systemic Discrimination

Joshua Graff Zivin and Gregor Singer

No 30814, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We examine how exogenous changes in exposure to air pollution over the past two decades have altered the disparities in home values between Black and White homeowners. We find that air quality capitalization rates are significantly lower for Black homeowners. In fact, they are so much lower that, despite secular reductions in the Black-White pollution exposure gap, disparities in housing values have increased during this period. An exploration of mechanisms suggests that roughly two-thirds of this difference is the result of direct discrimination while the remaining one-third can be attributed to systemic discrimination.

JEL-codes: J15 Q53 R31 (search for similar items in EconPapers)
Date: 2022-12
New Economics Papers: this item is included in nep-ene, nep-env and nep-ure
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Working Paper: Disparities in pollution capitalization rates: the role of direct and systemic discrimination (2023)
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