Peer Reviewed Publications
Abstract ↓
Global sea level rise is a known consequence of climate change. As predictions of sea level rise have grown in magnitude and certainty, coastal real estate assets face an increasing climate risk. I use a complete data set of repeated home sales from Long Island in New York State to estimate the appreciation discount caused by the threat of sea level rise. The repeat sale methodology allows for time-invariant, unobserved property characteristics to be controlled for. Between 2000 and 2017, I find that residential properties that were exposed to future sea level rise experienced an annual price appreciation rate of roughly one percentage point below unexposed properties. I provide numerous robustness checks to confirm this result. I also find evidence of demand spillovers by estimating an appreciation premium for properties that are near the coast but are relatively safe from sea level rise.
Abstract ↓
Cycling to work is uncommon in most areas of the US, but relatively common in a particular set of metros and neighbourhoods. Explanations for this spatial heterogeneity often focus on differences in local geography, with some areas being allegedly more suitable for cycling. I estimate the role of topography and climate in determining the share of a metro's workers who cycle to work and the probability a particular worker chooses to cycle. I combine a US wide data set of commute flows with detailed elevation and climate data. I find that climate and topography play essentially no role in explaining cycling mode share across metros. Across workers, the hilliness of a commuter's route is found to be statistically irrelevant to cycling mode choice.
Abstract ↓
Traffic fatalities in the US have been rising among pedestrians even as they fall among motorists. Contemporaneously, the US has undergone a significant shift in consumer preferences for motor vehicles, with larger Sport Utility Vehicles comprising an in- creased market share. Larger vehicles may pose a risk to pedestrians, increasing the severity of collisions. I use data covering all fatal vehicle collisions in the US and exploit heterogeneity in changing vehicle fleets across metros for identification. Between 2000 and 2019, I estimate that replacing the growth in Sport Utility Vehicles with cars would have averted 1,100 pedestrian deaths. I find no evidence that the shift towards larger vehicles improved aggregate motorist safety.
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Many US cities have made large investments in light rail transit in order to improve commuting networks. I analyse the labour market effects of light rail in four US metros. I propose a new instrumental variable to overcome endogeneity in transit station location, enabling causal identification of neighbourhood effects. Light rail stations are found to drastically improve employment outcomes in the surrounding neighbourhood. To incorporate endogenous sorting by workers, I estimate a structural neighbourhood choice model. Light rail systems tend to raise rents in accessible locations, displacing lower skilled workers to isolated neighbourhoods, which reduces aggregate metropolitan employment in equilibrium.
Abstract ↓
Laws concerning marijuana have recently undergone liberalization in many North American markets. The changing legal environment has enabled the establishment of retail marijuana dispensaries. Local externalities generated by dispensaries may impact home values, particularly by influencing demand for the surrounding neighbourhood. Recent empirical evidence has found a positive effect of dispensaries on home values. I use unique data on 84 dispensaries and 62,000 repeat home transactions from Vancouver, Canada to estimate the effect of dispensaries on home prices. Historical Google Street View images are used to construct a longitudinal record of dispensary activity. I find no evidence that dispensaries increase local home values in Vancouver and some evidence of a negative price effect for homes located within 100 meters of a dispensary.
Abstract ↓
The importance of substitution patterns between public transit and carsharing has been discussed in prior literature. This study provides empirical evidence of significant interaction between the two modes. On November 24, 2015 the public transit rail system in Vancouver, Canada experienced a significant service disruption due to an unforeseen mechanical failure. This study exploits this event as a natural experiment and investigates to what extent the city's largest carsharing service was utilized as a substitute. Extensive carsharing vehicle location data are used to examine how the carsharing network responded to the transit service disruption. Empirical results show a dramatic increase in the use of carsharing vehicles during the transit outage, particularly in areas close to affected transit stations. Through regression analysis, the quantity of vehicle trips accommodated by the carsharing system in response to the outage is estimated to be approximately 800. There is clear evidence of extemporaneous substitution between public transit and carsharing, suggesting the two modes act as parts of an integrated network.
Abstract ↓
The choice to use bus transit over a rival mode of transportation is a consequence of many variables. The importance of bus service quality on mode share is often considered but rarely measured explicitly. This study presents a novel temporal data set of geolocated buses from New York City. The merger of locational vehicle data with public schedule data allows for the estimation of bus dependability across neighbourhoods. This study uses plausibly exogenous spatial variation in the introduction New York City’s Select Bus Service program to explore the relationship between the policy intervention, bus service quality and changes in commuter mode share. A propensity score matching procedure compares bus reliability and mode share in tracts that received Select Bus Service to a control group. A sizeable treatment effect is found. The policy intervention significantly increased service frequency and improved bus arrival reliability. Additionally, bus mode share amongst commuters in treatment neighbourhoods increased substantially. Select Bus Service was responsible for an increase in local bus mode share of 1.9 percentage points, with bus mode share in the median tract rising from 9.6% to 11.5%. Female commuters are found to be more responsive to the service improvements than males.
Abstract ↓
Carsharing programs have demonstrated a potential to significantly shift incentives with regard to private vehicle ownership. The advent of free-floating vehicle fleets has enabled providers to offer ubiquitous vehicle access in designated urban areas. The ability of users to choose where to drop off vehicles presents the possibility that the density of available vehicles in particular areas will be insufficient to supply a reasonable level of service to local residents. The current paper will use exclusive data on vehicle location from a free-floating carshare service that operates in ten U.S. cities. Analysis will relate the availability of vehicles to census tract demographics. Results show vehicles cluster in tracts that are disproportionately populated by residents who are educated, young, employed, and white. Carshare systems have received significant in-kind incentives from government to operate. The mobility benefits of free-floating carshare systems appear to accrue disproportionately to advantaged populations.
Abstract ↓
Expanding employment opportunities for citizens has become an increasingly central goal of public policy in the United States. Prior work has considered that the inability of households to spatially access jobs may be a driver of unemployment. The provision of public transportation provides a viable policy lever to increase the number of job opportunities available to households. Previous research has yielded mixed results regarding whether household location is an important factor in determining employment status. Several papers have identified mobility as a limiting factor for obtaining a job, particularly in regards to private vehicle ownership. The location of economically developed neighbourhoods and the citing of public transportation are conceivably codetermined, presenting an endogenous relationship. It is therefore unclear if public transportation access is actually contributing to neighbourhood job market outcomes. This paper will use the incidence of Hurricane Sandy striking New York City on 29 October 2012 and the resulting exogenous reduction in public transit access to particular neighbourhoods as a natural experiment to test for the effect of public transportation on employment outcomes. This study identifies a significant causal effect linking public transportation access to neighbourhood unemployment rates, particularly amongst subgroups dependent on public transit.
Working Papers
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The Impact of Recreational Marijuana Dispensaries on Crime: Evidence from a Lottery Experiment
w. Xiuming (Audrey) Dong |
Abstract ↓
Many North American jurisdictions have legalized the operation of recreational marijuana dispensaries. A common concern is that dispensaries may contribute to local crime. Identifying the effect of dispensaries on crime is confounded by the spatial endogeneity of dispensary locations. Washington state allocated dispensary licenses through a lottery, providing a natural experiment to estimate the causal effect of dispensaries on crime. Combining lottery data with detailed geocoded crime data, we estimate that the presence of a dispensary has no impact on average local crime rates. However, within low-income neighborhoods, we find an increase in property crime adjacent to new dispensaries.
w. Limin Fang and Nathan Stewart
Abstract ↓
Restrictions on housing supply in many large cities have contributed to a rapid increase in home prices and rents. Incumbent homeowners may benefit from rising prices because it raises the value of their asset, while renters are harmed by supply restrictions through higher rents. Diminished housing supply also exacerbates social ills such as homelessness and slows aggregate economic growth. Supply restrictions are often implemented by city councils at the behest of homeowners. Using new data from Toronto, we estimate the role of homeowners in restricting the supply of new housing. We collect a complete history of city council bills from 2009 to 2020 and use a machine learning approach to identify all bills related to housing supply. We link councillor voting behaviour on housing bills to the home-ownership rate of their constituents to estimate the partial effect of local home-ownership on a councillor's behaviour. We make use of an exogenous redistricting event, where local electoral ward boundaries were redrawn, as a source of variation in the constituent composition faced by councillors. Our results show that councillors who represent more homeowners are less supportive of new housing compared to councillors who represent more renters. We provide estimates on the extent to which housing supply is restricted as a direct result of homeowner political influence.
Other Publications
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Mobility, Economic Opportunity and New York City Neighborhoods
(w. Kaufman, Moss and Hernandez) 2015, The Rudin Center. |