A LANDFILL CLOSURE AND HOUSING VALUES

In: Contemporary economic policy: a journal of Western Economic Association International, Band 27, Heft 3, S. 380-389

Abstract

The United States disposes roughly 60% of the municipal solid waste it generates each year in solid waste disposal facilities, commonly known as landfills. Hedonic pricing studies have estimated the external costs of landfills on neighboring housing markets, but the literature is silent on what happens to property values after the landfill closes. Original housing price data collected both before and after a landfill closure are used to estimate how a landfill closure affects neighboring property values. Results of both a hedonic pricing model and a repeat‐sales estimator are used in the analysis. (JEL H42, H72, Q51, Q53, R21)