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

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  • William J. Collins

    ()
    (Department of Economics, Vanderbilt University, NBER)

  • Robert A. Margo

    ()
    (Department of Economics, Vanderbilt University, NBER)

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

Paper provided by Vanderbilt University Department of Economics in its series Vanderbilt University Department of Economics Working Papers with number 0410.

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Date of creation: May 2004
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Handle: RePEc:van:wpaper:0410

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Web page: http://www.vanderbilt.edu/econ/wparchive/index.html

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Keywords: Civil disturbance; Watts; Detroit; Newark;

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  1. Edward L. Glaeser & Joseph Gyourko, 2001. "Urban Decline and Durable Housing," NBER Working Papers 8598, National Bureau of Economic Research, Inc.
  2. Daron Acemoglu & James A. Robinson, 2000. "Why Did The West Extend The Franchise? Democracy, Inequality, And Growth In Historical Perspective," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 115(4), pages 1167-1199, November.
  3. David M. Cutler & Edward L. Glaeser & Jacob L. Vigdor, 1999. "The Rise and Decline of the American Ghetto," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 107(3), pages 455-506, June.
  4. Kain, John F & Quigley, John Michael, 1972. "Housing Market Discrimination, Homeownership, and Savings Behavior," American Economic Review, American Economic Association, American Economic Association, vol. 62(3), pages 263-77, June.
  5. 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.
  6. David M. Cutler & Edward L. Glaeser, 1995. "Are Ghettos Good or Bad?," NBER Working Papers 5163, National Bureau of Economic Research, Inc.
  7. Collins, William J. & Margo, Robert A., 2000. "Residential segregation and socioeconomic outcomes: When did ghettos go bad?," Economics Letters, Elsevier, Elsevier, vol. 69(2), pages 239-243, November.
  8. 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.
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Cited by:
  1. Timothy Besley & Hannes Mueller, 2009. "Estimating the Peace Dividend:The Impact of Violence on HousePrices in Northern Ireland," STICERD - Economic Organisation and Public Policy Discussion Papers Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE 011, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  2. Francesco Passarelli & Guido Tabellini, 2013. "Emotions and Political Unrest," CESifo Working Paper Series 4165, CESifo Group Munich.
  3. Taylor Jaworski & Bart J. Wilson, 2013. "Go West Young Man: Self-Selection and Endogenous Property Rights," Southern Economic Journal, Southern Economic Association, vol. 79(4), pages 886-904, April.
  4. Thomas Fujiwara & Kyle C. Meng & Tom Vogl, 2013. "Estimating Habit Formation in Voting," NBER Working Papers 19721, National Bureau of Economic Research, Inc.
  5. Braakmann, Nils, 2012. "The effect of the 2011 London riots on crime, policing and unemployment," MPRA Paper 44883, University Library of Munich, Germany.
  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. 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, American Economic Association, vol. 101(7), pages 3019-46, December.
  8. 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.
  9. 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," IZA Discussion Papers 7697, Institute for the Study of Labor (IZA).

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