RT Journal Article
SR Electronic
T1 Estimating the Impact of Critical-Habitat Designation on the Values of Developed and Undeveloped Parcels
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 101922-0081R
DO 10.3368/le.100.1.101922-0081R
A1 Saleh Mamun
A1 Erik Nelson
A1 Christoph Nolte
YR 2023
UL http://le.uwpress.org/content/early/2023/08/15/le.100.1.101922-0081R.abstract
AB We used the quasi-experimental difference-in-differences method to estimate the impact that the Endangered Species Act’s (ESA’s) critical-habitat (CH) regulation had on developed and undeveloped parcel prices throughout the United States between 2000 and 2019. At the national level we find that, on average, the prices of parcels in CH areas were not statistically different from the prices of similar nearby parcels not in CH. However, limiting our analysis to specific subsets of CH areas, we find mixed results. Previous empirical estimates have consistently found that the regulation reduces parcel prices. We offer several potential explanations for our contradictory results.