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Impacts of a French Urban Renewal Program on local housing markets

Author

Listed:
  • Lucie Letrouit

    (AME-SPLOTT - Systèmes Productifs, Logistique, Organisation des Transports et Travail - Université Gustave Eiffel)

  • Florence Goffette-Nagot

    (GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique)

  • Sylvain Chareyron

    (UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12)

Abstract

We contribute to the evaluation of urban renewal policies based on a large-scale program launched in France in 2004. Using an estimator aimed at avoiding bias in the estimation of treatment effects that are heterogeneous across treatment groups or time periods, and complementing its results with a more precise double fixed effects difference-in-differences estimator, we find no significant aggregate impact of the program on housing prices. We identify four dampening factors that can explain this lack of aggregate impact: a sometimes insufficient level of funding per neighborhood, a stigma effect in the most deprived neighborhoods, the isolation of some neighborhoods located far from city centers, and the concentration of the program's funding on types of operations associated with small impacts on housing prices.

Suggested Citation

  • Lucie Letrouit & Florence Goffette-Nagot & Sylvain Chareyron, 2020. "Impacts of a French Urban Renewal Program on local housing markets," Post-Print hal-04112867, HAL.
    • Handle: RePEc:hal:journl:hal-04112867
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    Cited by:

    1. Xiaojun Li & Jieyu Wang & Ke Luo & Yuanling Liang & Shaojian Wang, 2022. "Exploring the Spillover Effects of Urban Renewal on Local House Prices Using Multi-Source Data and Machine Learning: The Case of Shenzhen, China," Land, MDPI, vol. 11(9), pages 1-16, August.
    2. Baraldi, Anna Laura & Immordino, Giovanni & Stimolo, Marco, 2022. "Self-selecting candidates or compelling voters: How organized crime affects political selection," European Journal of Political Economy, Elsevier, vol. 71(C).
    3. Francesca M. Calamunci & Livio Ferrante & Rossana Scebba & Gianpiero Torrisi, 2023. "Mafia doesn't live here anymore: Antimafia policies and housing prices," Journal of Regional Science, Wiley Blackwell, vol. 63(4), pages 1001-1025, September.

    More about this item

    Keywords

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    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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