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The Economic Aftermath of the 1960s Riots in American Cities: Evidence from Property Values

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  • Collins, William J.
  • Margo, Robert A.

Abstract

In the 1960s numerous cities in the United States experienced violent, race-related civil disturbances. Although social scientists have long studied the causes of the riots, the consequences have received much less attention. This paper examines census data from 1950 to 1980 to measure the riots' impact on the value of central-city residential property, and especially on black-owned property. Both ordinary least squares and two-stage least squares estimates indicate that the riots depressed the median value of black-owned property between 1960 and 1970, with little or no rebound in the 1970s. Analysis of household-level data suggests that the racial gap in the value of property widened in riot-afflicted cities during the 1970s.

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Bibliographic Info

Article provided by Cambridge University Press in its journal The Journal of Economic History.

Volume (Year): 67 (2007)
Issue (Month): 04 (December)
Pages: 849-883

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Handle: RePEc:cup:jechis:v:67:y:2007:i:04:p:849-883_00

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  1. David M. Cutler & Edward L. Glaeser & Jacob L. Vigdor, 1997. "The Rise and Decline of the American Ghetto," NBER Working Papers 5881, National Bureau of Economic Research, Inc.
  2. Collins, William J. & Margo, Robert A., 2000. "Residential segregation and socioeconomic outcomes: When did ghettos go bad?," Economics Letters, Elsevier, vol. 69(2), pages 239-243, November.
  3. Cutler, David M & Glaeser, Edward L, 1997. "Are Ghettos Good or Bad?," The Quarterly Journal of Economics, MIT Press, vol. 112(3), pages 827-72, August.
  4. Ihlanfeldt, Keith R. & Martinez-Vazquez, Jorge, 1986. "Alternative value estimates of owner-occupied housing: Evidence on sample selection bias and systematic errors," Journal of Urban Economics, Elsevier, vol. 20(3), pages 356-369, November.
  5. Acemoglu, Daron & Robinson, James A, 1998. "Why did the West Extend the Franchise? Democracy, Inequality and Growth in Historical Perspective," CEPR Discussion Papers 1797, C.E.P.R. Discussion Papers.
  6. DiPasquale, Denise & Glaeser, Edward L., 1998. "The Los Angeles Riot and the Economics of Urban Unrest," Journal of Urban Economics, Elsevier, vol. 43(1), pages 52-78, January.
  7. Edward L. Glaeser & Joseph Gyourko, 2005. "Urban Decline and Durable Housing," Journal of Political Economy, University of Chicago Press, vol. 113(2), pages 345-375, April.
  8. Kain, John F & Quigley, John Michael, 1972. "Housing Market Discrimination, Homeownership, and Savings Behavior," American Economic Review, American Economic Association, vol. 62(3), pages 263-77, June.
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Cited by:
  1. Nathaniel Baum-Snow & Byron F. Lutz, 2011. "School Desegregation, School Choice, and Changes in Residential Location Patterns by Race," American Economic Review, American Economic Association, vol. 101(7), pages 3019-46, December.
  2. Thomas Fujiwara & Kyle C. Meng & Tom Vogl, 2013. "Estimating Habit Formation in Voting," NBER Working Papers 19721, National Bureau of Economic Research, Inc.
  3. Tim Besley & Hannes Mueller, 2009. "Estimating the peace dividend: the impact of violence on house prices in Northern Ireland," IFS Working Papers W09/18, Institute for Fiscal Studies.
  4. Cozzi, Guido & Mantovan, Noemi & Sauer, Robert M., 2013. "Does it Pay to Work for Free? Wage Returns and Gender Differences in the Market for Volunteers," Economics Working Paper Series 1330, University of St. Gallen, School of Economics and Political Science.
  5. Francesco Passarelli & Guido Tabellini, 2013. "Emotions and Political Unrest," CESifo Working Paper Series 4165, CESifo Group Munich.
  6. Marc Rockmore, 2011. "The Cost of Fear: The Welfare Effects of the Risk of Violence in Northern Uganda," HiCN Working Papers 109, Households in Conflict Network.
  7. Taylor Jaworski & Bart J. Wilson, 2009. "Go West Young Man: Self-selection and Endogenous Property Rights," Working Papers 09-02, Chapman University, Economic Science Institute.
  8. Braakmann, Nils, 2012. "The effect of the 2011 London riots on crime, policing and unemployment," MPRA Paper 44883, University Library of Munich, Germany.
  9. Martha J. Bailey & Nicolas J. Duquette, 2014. "How Johnson Fought the War on Poverty: The Economics and Politics of Funding at the Office of Economic Opportunity," NBER Working Papers 19860, National Bureau of Economic Research, Inc.

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