全球智库信息集成服务系统(G2TT): Preserving History or Hindering Growth? The Heterogeneous Effects of Historic Districts on Local Housing Markets in New York City

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w20446
来源ID	Working Paper 20446
	Preserving History or Hindering Growth? The Heterogeneous Effects of Historic Districts on Local Housing Markets in New York City
	Vicki Been; Ingrid Gould Ellen; Michael Gedal; Edward Glaeser; Brian J. McCabe
发表日期	2014-09-05
出版年	2014
语种	英语
摘要	Since Brooklyn Heights was designated as New York City's first landmarked neighborhood in 1965, the Landmarks Preservation Commission has designated 120 historic neighborhoods in the city. This paper develops a theory of heterogeneous impacts across neighborhoods and exploits variation in the timing of historic district designations in New York City to identify the effects of preservation policies on residential property markets. We combine an extensive dataset of residential transactions during the 35-year period between 1974 and 2009 with data from the Landmarks Preservation Commission on the location of the city's historic districts and the timing of the designations. Designation raises property values within historic districts, but only outside of Manhattan. In areas where the value of the option to build unrestricted is higher, designation has a less positive effect on property values within the district. Consistent with theory, properties just outside the boundaries of districts increase in value after designation. There is also a modest reduction in new construction in districts after designation.
主题	Other ; General, Teaching ; Regional and Urban Economics
URL	https://www.nber.org/papers/w20446
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/578118
推荐引用方式 GB/T 7714	Vicki Been,Ingrid Gould Ellen,Michael Gedal,et al. Preserving History or Hindering Growth? The Heterogeneous Effects of Historic Districts on Local Housing Markets in New York City. 2014.