Place-Based Policies and the Housing Market
研究了荷兰一项改善贫困街区公共住房质量的计划对周边自有住房价格的影响，发现房价上涨3.5%，且外部收益至少占公共住房投资价值的一半。
We study the economic effects of place-based policies in the housing market, by investigating the effects of a place-based program on prices of surrounding owner-occupied properties. The program improved the quality of public housing in 83 impoverished neighborhoods throughout the Netherlands. We combine a first-difference approach with a fuzzy regression-discontinuity design to address the fundamental issue that these neighborhoods are endogenously treated. Improvements in public housing induced surrounding housing prices to increase by 3.5%. The program's external benefits are sizable and at least half of the value of investments in public housing.