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首页> 外文期刊>Environmental & Resource Economics >Hazardous Waste Hits Hollywood: Superfund and Housing Prices in Los Angeles
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Hazardous Waste Hits Hollywood: Superfund and Housing Prices in Los Angeles

机译：危险废物袭击好莱坞：洛杉矶的超级基金和房价

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This paper contributes to the ongoing debate concerning the effect of various actions taken by the U.S. Environmental Protection Agency under CERCLA, commonly known as the Superfund Program, on housing prices. This study uses a housing transaction panel dataset encompassing the five major counties of the Los Angeles Combined Statistical Area to estimate the program's influence on the local housing market. Using house and time-varying census tract fixed effects, I am able to avoid many of the endogeneity problems seen in previous research attempting to measure the Superfund treatment effect. An estimate of the effect on housing prices is given for each of the major events that occur under a typical Superfund remediation. After controlling for confounding correlated unobservables, I find a 7.3 % increase in sales price for houses within 3 km of a site that moves through the complete Superfund program. The analysis gives evidence of positive price appreciation for housing markets and serves as a lower bound for measuring remediation benefits.
机译：本文为有关美国环境保护局根据CERCLA采取的各种行动（通常称为超级基金计划）对住房价格的影响的持续辩论做出了贡献。这项研究使用的房屋交易面板数据集涵盖了洛杉矶联合统计区的五个主要县，以评估该计划对当地房屋市场的影响。使用房屋和随时间变化的人口普查区固定效应，我能够避免在先前尝试测量超级基金治疗效果的研究中看到的许多内生性问题。对于在典型的超级基金补救措施下发生的每项重大事件，均会估算出对房价的影响。在控制了相关的不可观察因素的混淆之后，我发现在整个Superfund计划中，距离站点3公里以内的房屋的销售价格上涨了7.3％。该分析提供了房地产市场价格正上涨的证据，并且是衡量补救收益的下限。

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