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Full-Text Articles in Urban Studies and Planning
Neighborhood Dynamics And The Housing Price Effects Of Spatially Targeted Economic Development Policy, Douglas J. Krupka, Douglas S. Noonan
Neighborhood Dynamics And The Housing Price Effects Of Spatially Targeted Economic Development Policy, Douglas J. Krupka, Douglas S. Noonan
Douglas S. Noonan
Neighborhoods are the result of a complicated interplay between residential choice, housing supply and the influences of the larger metropolitan system on its constituent parts. We model this interplay as a system of reduced-form equations in order to examine the effects of a generous spatially targeted economic development program (the federal Empowerment Zone program) on neighborhood characteristics, especially housing values. This system of equations approach allows us to compute direct effects of the policy intervention as well as the effects mediated through non-price channels such as changes in the housing stock or neighborhood demographics. In the process, we are able …
Empowerment Zones, Neighborhood Change And Owner-Occupied Housing, Douglas J. Krupka, Douglas S. Noonan
Empowerment Zones, Neighborhood Change And Owner-Occupied Housing, Douglas J. Krupka, Douglas S. Noonan
Douglas S. Noonan
This paper examines the effects of a generous, spatially-targeted economic development policy (the federal Empowerment Zone program) on local neighborhood characteristics and on the neighborhood quality of life, taking into account the interactions amongst the policy, changes in neighborhood demographics and neighborhood housing stock. Urban economic theory posits that housing prices in a small area should increase as quality of life increases, because people will be more willing to pay to live in the area, but these changes in prices and quality of life will also affect the demographics of the population through sorting and the housing stock through reinvestment. …