Measuring the Property-Value Effects of Local Land Use and Preservation Referenda
研究马萨诸塞州通过公投筹集资金用于保护和可负担住房的政策，使用分位数回归等方法发现保护对房产价值有正向影响，且分位数回归揭示了标准回归未注意到的异质性。
This paper examines a Massachusetts policy that encourages communities to raise money through referenda for preservation and affordable housing. I use difference-indifferences, fixed effects, and quantile regression to compare home prices before and after such referenda in two towns. I include covariates representing existing land uses, zoning, and historic resources to estimate the value of these amenities. Standard regression techniques indicate weak effects of the referenda, while the estimated coefficients on land use and historic preservation confirm that preservation has a positive effect on property values. The quantile regression sheds light on some heterogeneity that goes unnoticed in standard regression results. <i></i>