RT Journal Article
SR Electronic
T1 The Coal Transition and Its Implications for Health and Housing Values
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 102222-0092R
DO 10.3368/le.100.1.102222-0092R
A1 Rebecca Fraenkel
A1 Josh Graff-Zivin
A1 Sam Krumholz
YR 2023
UL http://le.uwpress.org/content/early/2023/08/15/le.100.1.102222-0092R.abstract
AB From 2005–2020, one-third of US coal plants had at least one coal-fired generator close. We utilize this natural experiment to estimate the effect of coal plant exposure on mortality and house values. Using a difference-in-differences design, we find that counties within 30 miles of a closing unit experience large health effects following shutdown. While these health improvements appear to capitalize into housing values, they only do so within 15 miles of the plant and only when the retirement is of all units. Taken together, these results underscore the importance of risk salience in shaping market-mediated price effects.