Estimating the Impact of Critical-Habitat Designation on the Values of Developed and Undeveloped Parcels
使用准实验双重差分法，研究了2000至2019年间美国《濒危物种法》关键栖息地规定对已开发和未开发地块价格的影响，发现全国层面无显著差异，但特定子集结果不一。
<h3>Abstract</h3> We used the quasi-experimental difference-in-differences method to estimate the impact that the Endangered Species Act’s (ESA’s) critical-habitat (CH) regulation had on developed and undeveloped parcel prices throughout the United States between 2000 and 2019. At the national level we find that, on average, the prices of parcels in CH areas were not statistically different from the prices of similar nearby parcels not in CH. However, limiting our analysis to specific subsets of CH areas, we find mixed results. Previous empirical estimates have consistently found that the regulation reduces parcel prices. We offer several potential explanations for our contradictory results.