The Value of Brownfield Remediation

Kevin Haninger, Lala Ma and Christopher Timmins

Journal of the Association of Environmental and Resource Economists, 2017, vol. 4, issue 1, 197 - 241

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.

Date: 2017
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Working Paper: The Value of Brownfield Remediation (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:ucp:jaerec:doi:10.1086/689743

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