Getting high or getting low? the external effects of coffeeshops on house prices
研究荷兰咖啡店（大麻销售点）关闭对周边房价的影响，发现关闭导致房价平均下降1.6%至8.5%，为政策制定者提供外部性证据。
Abstract Cannabis legalization is a hotly contested policy topic. While beneficial to some, cannabis dispensaries may create negative externalities for others. This paper studies the external effects of coffeeshops—Dutch cannabis sales facilities—on house prices. We employ a difference‐in‐difference framework around a change in regulation, leading to exogenous coffeeshop closings. We find that closings have a negative effect on house prices. Compared to homes nearby remaining coffeeshops, homes nearby closing coffeeshops decrease on average 1.6–8.5% in value. The findings are robust to a battery of tests and unaffected by the subsequent use of coffeeshop locations.