Impacts of a French Urban Renewal Program on local housing markets

Lucie Letrouit, Florence Goffette-Nagot () and Sylvain Chareyron
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Lucie Letrouit: AME-SPLOTT - Systèmes Productifs, Logistique, Organisation des Transports et Travail - Université Gustave Eiffel
Florence Goffette-Nagot: GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique

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Abstract: We contribute to the evaluation of urban renewal policies based on a large-scale program launched in France in 2004. Using an estimator aimed at avoiding bias in the estimation of treatment effects that are heterogeneous across treatment groups or time periods, and complementing its results with a more precise double fixed effects difference-in-differences estimator, we find no significant aggregate impact of the program on housing prices. We identify four dampening factors that can explain this lack of aggregate impact: a sometimes insufficient level of funding per neighborhood, a stigma effect in the most deprived neighborhoods, the isolation of some neighborhoods located far from city centers, and the concentration of the program's funding on types of operations associated with small impacts on housing prices.

Keywords: PLACE-BASED POLICIES; URBAN RENEWAL; HOUSING PRICES; HOUSING SPILLOVERS; DIFFERENCE-IN-DIFFERENCES (search for similar items in EconPapers)
Date: 2020-12-01
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Published in Future Days Université Gustave Eiffel, Dec 2020, Conférence en virtuel, France. 39p

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Related works:
Working Paper: Impacts of a French Urban Renewal Program on Local Housing Markets (2020)
Working Paper: Impacts of a French Urban Renewal Program on Local Housing Markets (2020)
Working Paper: Impacts of a French Urban Renewal Program on Local Housing Markets (2020)
Working Paper: Impacts of a French Urban Renewal Program on Local Housing Markets (2020)
Working Paper: Impacts of a French Urban Renewal Program on Local Housing Markets (2020)
Working Paper: Impacts of a French urban renewal program on local housing markets (2019)
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