Is Crime Bad for Business? Crime and Commercial Property Values in New York City
Is Crime Bad for Business? Crime and Commercial Property Values in New York City
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犯罪对商业有害吗？
DOI：
10.1111/jors.12254
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发表时间：
2016
期刊：
影响因子：
--
通讯作者：
Rachel Meltzer
中科院分区：
文献类型：
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作者：
Michael C. Lens;Rachel Meltzer
为了检验犯罪如何影响经济活动，我们使用了关于犯罪、商业地产销售和纽约市评估价值的特定点数数据，依赖于工具变量策略。我们发现，犯罪降低了商业财产的价值，其影响的大小取决于犯罪的类型和地理位置。弹性范围从−0.1到−0.5。我们发现了更有力的证据表明，在收入较低、少数族裔居民比例较高的社区，暴力犯罪会产生负面影响。因此，弱势社区受到犯罪的双重伤害--他们的犯罪率更高，这些犯罪对经济活动的影响更大。
To test how crime affects economic activity, we use point‐specific data on crime, commercial property sales and assessed values from New York City, relying on an instrumental variables strategy. We find that crime reduces commercial property values, and the magnitude of the effect depends on the type and geography of crime. Elasticities range from −0.1 to −0.5. We find stronger evidence for negative violent crime effects in neighborhoods with lower incomes and higher shares of minority residents. Thus, disadvantaged neighborhoods are doubly harmed by crime - they have higher crime rates and those crimes have stronger effects on economic activity.