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Who Benefits from Hazardous Waste Cleanups? Evidence from the Housing Market

Author

Listed:
  • Alecia W. Cassidy
  • Elaine L. Hill
  • Lala Ma

Abstract

The Resource Conservation and Recovery Act (RCRA) manages cleanup of hazardous waste releases at over 3,500 sites across the US, which covers approximately 17.5% of all developed land in the country. This paper evaluates the national and distributional housing market impacts of cleanups performed under RCRA and estimates the program's impacts on neighborhood change. We find that cleanups near residential properties yield significant, yet localized, increases in home prices, and that impacts are concentrated in the lower deciles of the price distribution. Importantly, we find no evidence of sorting along socio-demographic dimensions in response to cleanup. Our findings suggest that cleanup benefits accrue to the residents who are the original “hosts” of pollution and could correct pre-existing disparities in exposure to land-based contamination.

Suggested Citation

  • Alecia W. Cassidy & Elaine L. Hill & Lala Ma, 2022. "Who Benefits from Hazardous Waste Cleanups? Evidence from the Housing Market," NBER Working Papers 30661, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:30661
    Note: EEE
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    Cited by:

    1. Woongchan Jeon & Lint Barrage & Kieran James Walsh, 2024. "Pricing Climate Risks: Evidence from Wildfires and Municipal Bonds," CESifo Working Paper Series 11447, CESifo.
    2. Ponce, Anthony, 2024. "Policy Spillovers to Biodiversity: The Impacts of Interventions for Water Quality on Bird Abundance," 2024 Annual Meeting, July 28-30, New Orleans, LA 343885, Agricultural and Applied Economics Association.

    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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