We contribute to the evaluation of urban renewal policies based on a large-scale program launched in France in 2004. Using an estimator aimed at avoiding bias in the estimation of treatment effects that are heterogeneous across treatment groups or time periods, and complementing its results with a more precise double fixed effects difference-indifferences estimator, we find no significant aggregate impact of the program on housing prices. We identify four dampening factors that can explain this lack of aggregate impact: a sometimes insufficient level of funding per neighborhood, a stigma effect in the most deprived neighborhoods, the isolation of some neighborhoods located far from city centers, and the concentration of the program's funding on types of operations associated with small impacts on housing prices.
Externalities from urban renewal: evidence from a French program
Résumé
en
We contribute to the evaluation of urban renewal policies based on a large-scale program launched in France in 2004. Using an estimator aimed at avoiding bias in the estimation of treatment effects that are heterogeneous across treatment groups or time periods, and complementing its results with a more precise double fixed effects difference-indifferences estimator, we find no significant aggregate impact of the program on housing prices. We identify four dampening factors that can explain this lack of aggregate impact: a sometimes insufficient level of funding per neighborhood, a stigma effect in the most deprived neighborhoods, the isolation of some neighborhoods located far from city centers, and the concentration of the program's funding on types of operations associated with small impacts on housing prices.
1
ERUDITE -
Equipe de Recherche sur l’Utilisation des Données Individuelles en lien avec la Théorie Economique
( 1004415 )
- Université Gustave Eiffel, 5 boulevard Descartes, 77454 Marne-la-Vallée CEDEX 2
UPEC - Faculté de sciences économiques et de gestion
Mail des mèches Rue Poète et Sellier 94010 Créteil Cedex
- France
2
TEPP -
Travail, Emploi et Politiques Publiques
( 188024 )
- Université Paris-Est Marne-la-Vallée
5 boulevard Descartes - Champs sur Marne
Bâtiment Camus
77454 Marne-la-Vallée Cedex 2
- France
Université Paris-Est Marne-la-Vallée ( 301243 )
;
Centre National de la Recherche Scientifique FR3435 ( 441569 )
3
GATE Lyon Saint-Étienne -
Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne
( 1169842 )
- 93, chemin des Mouilles 69130 Écully 6, rue Basse des Rives 42023 Saint-Étienne cedex 02
- France
École normale supérieure de Lyon ( 6818 )
;
Université Lumière - Lyon 2 ( 33804 )
;
Université Jean Monnet - Saint-Étienne ( 300284 )
;
Centre National de la Recherche Scientifique UMR5824 ( 441569 )
4
AME-SPLOTT -
Systèmes Productifs, Logistique, Organisation des Transports et Travail
( 581153 )
- 14-20 Boulevard Newton Cité Descartes, Champs sur Marne F-77454 Marne la Vallée
- France
Université Gustave Eiffel ( 580722 )
Nom de la revue
Regional Science and Urban Economics
(ISSN : 0166-0462)
Publié par Elsevier
Revue non référencée dans Sherpa-Romeo
D - Microeconomics/D.D6 - Welfare Economics/D.D6.D62 - Externalities
H - Public Economics/H.H2 - Taxation, Subsidies, and Revenue/H.H2.H23 - Externalities • Redistributive Effects • Environmental Taxes and Subsidies
R - Urban, Rural, Regional, Real Estate, and Transportation Economics/R.R2 - Household Analysis/R.R2.R21 - Housing Demand
R - Urban, Rural, Regional, Real Estate, and Transportation Economics/R.R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location/R.R3.R31 - Housing Supply and Markets
Sylvain Chareyron, Florence Goffette-Nagot, Lucie Letrouit. Externalities from urban renewal: evidence from a French program. Regional Science and Urban Economics, 2022, 95, pp.103789. ⟨10.1016/j.regsciurbeco.2022.103789⟩. ⟨halshs-03753046⟩