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Preserving History Or Property Values: Historic Preservation And Housing Prices In Washington, Dc, Lev Klarnet
Preserving History Or Property Values: Historic Preservation And Housing Prices In Washington, Dc, Lev Klarnet
Undergraduate Economic Review
Neighborhood historic preservation has been highly controversial in Washington, DC, as proponents claim it preserves valuable architecture and critics claim in increases unaffordability. Using a dataset of all residential and condominium property sales in DC between 1992 and 2019, I find that the effect of historic designation on property values within historic districts is heterogeneous. While residential property values increase by 9%, condominium prices fall by 6.3% after designation. This paper also uniquely controls for endogeneity—which arises if in response to rising housing prices, neighborhood groups seek historic designation—by researching the party that nominated each historic district.
The Effect Of Terminating Enforcement Actions On The Nation's Problem Banks, Benjamin Doehr
The Effect Of Terminating Enforcement Actions On The Nation's Problem Banks, Benjamin Doehr
Undergraduate Economic Review
This paper examines whether the Federal Deposit Insurance Corporation's supervisory actions promote improved performance at problem banks. I show that during the three-year period following the termination of a supervisory action, return on assets rises by 10 to 20 basis points. The reaction of capital markets to the termination results in a 1.7 basis point increase in return on assets, while management actions post-termination result in a 1.6 basis point decrease in return on assets.