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Showing results 1 to 5 of approximately 5.
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Speech
Fulfilling our economic potential: remarks at the Association for Neighborhood & Housing Development 2019 Annual Conference, New York City
Remarks at the Association for Neighborhood & Housing Development 2019 Annual Conference, New York City.
Journal Article
Understanding Gentrification’s Causes
What do three centuries of Philadelphia history tell us about today?s changing neighborhoods?
Working Paper
Natural Amenities, Neighborhood Dynamics, and Persistence in the Spatial Distribution of Income
We present theory and evidence highlighting the role of natural amenities in neighborhood dynamics, suburbanization, and variation across cities in the persistence of the spatial distribution of income. Our model generates three predictions that we confirm using a novel database of consistent-boundary neighborhoods in U.S. metropolitan areas, 1880{2010, and spatial data for natural features such as coastlines and hills. First, persistent natural amenities anchor neighborhoods to high incomes over time. Second, naturally heterogeneous cities exhibit persistent spatial distributions of income. ...
Working Paper
Supply Shock Versus Demand Shock: The Local Effects of New Housing in Low-Income Areas
We study the local effects of new market-rate housing in low-income areas using microdata on large apartment buildings, rents, and migration. New buildings decrease nearby rents by 5 to 7 percent relative to locations slightly farther away or developed later, and they increase in-migration from low-income areas. Results are driven by a large supply effect—we show that new buildings absorb many high-income households—that overwhelms any offsetting endogenous amenity effect. The latter may be small because most new buildings go into already-changing areas. Contrary to common concerns, new ...
Working Paper
Effects of Gentrification on Homeowners: Evidence from a Natural Experiment
A major overhaul of the property tax system in 2013 in the city of Philadelphia has generated significant variations in the amount of property taxes across properties. This exogenous policy shock provides a unique opportunity to identify the causal effects of gentrification, which is often accompanied by increased property values, on homeowners’ tax payment behavior and residential mobility. The analysis, based on a difference-in-differences framework, suggests that gentrification leads to a higher risk of delinquency on homeowners’ tax bills on average, but there was no sign of a ...