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Externalities from urban renewal: evidence from a French program

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

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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-indifferences 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; differencein-differences (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-eur and nep-ure
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Published in Regional Science and Urban Economics, 2022, 95, pp.103789. ⟨10.1016/j.regsciurbeco.2022.103789⟩

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DOI: 10.1016/j.regsciurbeco.2022.103789

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