Economic Effects of Environmental Crises: Evidence from Flint, Michigan

Peter Christensen, David A. Keiser and Gabriel E. Lade

American Economic Journal: Economic Policy, 2023, vol. 15, issue 1, 196-232

Abstract: In April 2014 Flint, Michigan switched its drinking water supply from the Detroit water system to the Flint River as a temporary means to save $5 million. Over 18 months it was revealed that the switch exposed residents to dangerous levels of lead, culminating in an emergency declaration in October 2015. This paper examines the impact of this crisis on the Flint housing market. The value of Flint's housing stock has fallen by $520 million to $559 million despite over $400 million in remediation spending. Home prices remain depressed through August 2019, 16 months after the water was declared safe for consumption.

JEL-codes: H12 I12 Q25 Q51 Q53 R31 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (4)

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DOI: 10.1257/pol.20190391

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