IDEAS home Printed from https://ideas.repec.org/a/uwp/landec/v100y2024i1p66-88.html
   My bibliography  Save this article

Toxic Assets: How the Housing Market Responds to Environmental Information Shocks

Author

Listed:
  • Jeremy G. Moulton
  • Nicholas J. Sanders
  • Scott A. Wentland

Abstract

Using national microdata from Zillow, we examine how U.S. housing markets respond to expanded information on local pollution stemming from a 1998 reporting change to the Toxics Release Inventory (TRI). Using both a difference-in-differences and a regression discontinuity in time design, we find that news coverage of the new TRI data lowered sales prices of homes near the largest reporting polluters but only within a tight geographic distance. Effects are isolated to homes within 0.5 miles of facilities reporting the largest amount of emissions (> 100 tons). This price capitalization implies public information on local polluters shifted private market behavior, suggesting a role for government as provider of information.

Suggested Citation

  • Jeremy G. Moulton & Nicholas J. Sanders & Scott A. Wentland, 2024. "Toxic Assets: How the Housing Market Responds to Environmental Information Shocks," Land Economics, University of Wisconsin Press, vol. 100(1), pages 66-88.
    • Handle: RePEc:uwp:landec:v:100:y:2024:i:1:p:66-88
    Note: DOI: https://doi.org/10.3368/le.100.1.102122-0089R
    as

    Download full text from publisher

    File URL: http://le.uwpress.org/cgi/reprint/100/1/66
    Download Restriction: A subscripton is required to access pdf files. Pay per article is available.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:100:y:2024:i:1:p:66-88. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: http://le.uwpress.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.