The Coal Transition and Its Implications for Health and Housing Values

Rebecca Fraenkel, Joshua Graff Zivin and Sam D. Krumholz

No 30801, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: During the past fifteen years, more than 30% of US coal plants have had at least one coal-fired generator close. We utilize this natural experiment to estimate the effect of coal plant exposure on mortality and house values. Using a difference-in-differences design, we find that, despite the fact that most of this coal generation is replaced with natural gas generation, individuals in counties whose population centroid is within 30 miles of a plant that closes at least one coal-fired unit experience large health effects following shutdown. While these health improvements appear to capitalize into housing values, they only do so for homes within 15 miles of the plant and only when the retirement is complete rather than partial. Taken together, these results underscore the importance of subjective perceptions in shaping market-mediated price effects with far-reaching implications for the literature.

JEL-codes: I18 Q4 Q50 (search for similar items in EconPapers)
Date: 2022-12
New Economics Papers: this item is included in nep-ene, nep-env, nep-hea and nep-ure
Note: EEE EH PE
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Citations: View citations in EconPapers (2)

Published as Rebecca Fraenkel & Josh Graff Zivin & Sam Krumholz, 2024. "The Coal Transition and Its Implications for Health and Housing Values," Land Economics, vol 100(1), pages 51-65.

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