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The Coal Transition and Its Implications for Health and Housing Values

Author

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  • Rebecca Fraenkel
  • Joshua S. Graff Zivin
  • Sam D. Krumholz

Abstract

During the past fifteen years, more than 30% of US coal plants have had at least one coal-fired generator close. We utilize this natural experiment to estimate the effect of coal plant exposure on mortality and house values. Using a difference-in-differences design, we find that, despite the fact that most of this coal generation is replaced with natural gas generation, individuals in counties whose population centroid is within 30 miles of a plant that closes at least one coal-fired unit experience large health effects following shutdown. While these health improvements appear to capitalize into housing values, they only do so for homes within 15 miles of the plant and only when the retirement is complete rather than partial. Taken together, these results underscore the importance of subjective perceptions in shaping market-mediated price effects with far-reaching implications for the literature.

Suggested Citation

  • Rebecca Fraenkel & Joshua S. Graff Zivin & Sam D. Krumholz, 2022. "The Coal Transition and Its Implications for Health and Housing Values," NBER Working Papers 30801, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:30801
    Note: EEE EH PE
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    Cited by:

    1. Ohler, Adrienne, 2023. "The Economics of Environmental Health Disparities: Who Benefits from Coal Power Plant Closures?," 2023 Annual Meeting, July 23-25, Washington D.C. 335760, Agricultural and Applied Economics Association.

    More about this item

    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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