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作者

来源

JOURNAL OF HOUSING ECONOMICS,Vol.37,P.67-83

语言

英文

关键字

Area-based initiatives; Program evaluation; Difference-in-difference; Housing prices; Hedonic; Spatial error model; HEDONIC PRICES; NEIGHBORHOODS; IMPACT; MARKET; CAPITALIZATION; REGENERATION; INITIATIVES; ENGLAND; MATTER

作者单位

[Aarland, Kristin] Oslo & Akershus Univ Coll Appl Sci, NOVA, N-0170 Oslo, Norway. [Osland, Liv; Gjestland, Arnstein] Western Norway Univ Appl Sci, Bjornsonsgt 45, N-5528 Haugesund, Norway. Osland, L (reprint author), Western Norway Univ Appl Sci, Bjornsonsgt 45, N-5528 Haugesund, Norway. E-Mail: kristin.aarland@nova.hioa.no; liv.osland@hvl.no; arnstein.gjestland@hvl.no

摘要

Area-based initiatives (ABI) remain a popular approach to combating urban decline. In this paper we examine one such spatially concentrated effort in Oslo, Norway, to test whether the program has succeeded in making the targeted neighborhoods more attractive as measured by house prices. The Oslo ABI is an interesting case as it distinguishes itself by its extensive emphasis on improving the social fabric of distressed neighborhoods. Place-based policies generate spatial discontinuities in program implementation. We exploit this in a quasi-experimental difference-in-difference approach, enabling a systematic pre/post comparison of house prices in treatment and control areas. We find that in two target areas there is a significant rise in housing prices, while in one target area there is no significant effect. Finally, one area experiences significant negative effects. Hence, the results are mixed which is not inconsistent with the existing literature. The estimated coefficients are remarkably stable across different model specifications, and the spatial error model also produces similar results. Moreover, the empirical findings of the paper are subject to several robustness checks, which mainly support our conclusions. (C) 2017 Elsevier Inc. All rights reserved.