Estimates of the Effect of School Desegregation Plans on Housing Values Over Time
研究学校废除种族隔离对住宅市场价值的影响，利用房产销售数据和岭回归方法，发现平均导致房价下降11.4%，其中超过三分之一与种族入学比例以外的因素有关。
This study investigates the impact that school desegregation can have on the market values of affected residential properties. It improves upon previous studies in that it is able to estimate not only the “racial enrollment” effect but also “other” desegregation‐related effects correlated with white perceptions of school quality, etc. Through the use of a controlled longitudinal and cross‐sectional data set of property sales and a ridge‐regression methodology, it is able to estimate these effects over time and separate them from amenity‐related effects. Results are significant in that they predict substantial desegregation‐related effects on house values over time, averaging 11.4% of property value, which correlate with school desegregation court rulings and other events. Furthermore, over one‐third of the magnitude of this discount is related to desegregation factors other than actual racial enrollment patterns in the schools.