LAND BANK 2.0: AN EMPIRICAL EVALUATION
研究评估了俄亥俄州凯霍加县土地银行通过收购低价值房产、缓解破败住房来减缓房产价值下降的效果，发现其减少了负面外部性并保护了未售房屋的权益。
ABSTRACT In 2009, Cuyahoga County, Ohio (Cleveland and 58 suburbs), established a land bank to acquire low‐value properties, mitigate blighted housing, and slow the decline of property values. This empirical study evaluates the effectiveness of the land bank by estimating spatially corrected hedonic price models using sales near the land‐bank homes. The land bank reduces the negative externalities of the properties it acquires. Its largest impact is the preservation of equity in unsold homes. We also estimate the recovered value for homes sold during the study period and the property tax revenue that may have been forgone, absent the land bank.