Open Access. Powered by Scholars. Published by Universities.®

Urban Studies and Planning Commons

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 2 of 2

Full-Text Articles in Urban Studies and Planning

Property Value Impacts Of Foreclosed Housing Acquisitions Under Uncertainty, Michael P. Johnson Jr., Senay Solak, Rachel B. Drew, Jeffrey Keisler Aug 2013

Property Value Impacts Of Foreclosed Housing Acquisitions Under Uncertainty, Michael P. Johnson Jr., Senay Solak, Rachel B. Drew, Jeffrey Keisler

Michael P. Johnson

Community development corporations seek to stabilize neighborhoods affected by the recent foreclosure crisis through acquisition and redevelopment of distressed properties. One rationale for this work is the alleviation or avoidance of negative foreclosure impacts. We estimate the lost value to proximate properties associated with a single foreclosure through a Markov chain representing probabilistic transitions between foreclosure stages. We apply our model to a case study of foreclosure properties in Chelsea, MA. A rank ordering by estimated property value impacts indicates significant potential gains in social value as compared to current community development practice. We extend our basic model to address ...


Targeted Business Incentives And Local Labor Markets, Matthew Freedman Dec 2012

Targeted Business Incentives And Local Labor Markets, Matthew Freedman

Matthew Freedman

This paper uses a regression discontinuity design to examine the effects of geographically targeted business incentives on local labor markets. Unlike elsewhere in the U.S., enterprise zone (EZ) designations in Texas are determined in part by a cutoff rule based on census block group poverty rates. Exploiting this discontinuity as a source of quasi-experimental variation in investment and hiring incentives across areas, I find that EZ designation has a positive effect on resident employment, increasing opportunities mainly in lower-paying industries. While business sitings and expansions spurred by the program are more geographically diffuse, EZ designation is associated with increases ...