Getting high or getting low? the external effects of coffeeshops on house prices

被引：2

作者：

Langen, Mike ^{[1
]}

Aydin, Erdal ^{[2
]}

Eichholtz, Piet ^{[3
]}

Kok, Nils ^{[3
]}

机构：

[1] Univ Reading, Henley Business Sch, Reading, Berks, England

[2] Sabanci Univ, Dept Econ, Istanbul, Turkey

[3] Maastricht Univ, Sch Business & Econ, Dept Finance, NL-6211 LK Maastricht, Netherlands

来源：

REAL ESTATE ECONOMICS | 2022年 / 50卷 / 02期

关键词：

cannabis; coffeeshops; externalities; housing markets; residential real estate; MEDICAL MARIJUANA LAWS; CANNABIS USE; LEGALIZATION; POLICY; MARKETS; IMPACT; STATES; CRIME;

D O I：

10.1111/1540-6229.12365

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Cannabis legalization is a hotly contested policy topic. While beneficial to some, cannabis dispensaries may create negative externalities for others. This paper studies the external effects of coffeeshops-Dutch cannabis sales facilities-on house prices. We employ a difference-in-difference framework around a change in regulation, leading to exogenous coffeeshop closings. We find that closings have a negative effect on house prices. Compared to homes nearby remaining coffeeshops, homes nearby closing coffeeshops decrease on average 1.6-8.5% in value. The findings are robust to a battery of tests and unaffected by the subsequent use of coffeeshop locations.

引用

页码：565 / 592

页数：28

共 34 条

[1] The Legalization of Recreational Marijuana: How Likely Is the Worst-Case Scenario? [J].