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Media type:
E-Article
Title:
THE EFFECT OF MARIJUANA DISPENSARY OPENINGS ON HOUSING PRICES
Contributor:
Burkhardt, Jesse;
Flyr, Matthew
Published:
Wiley, 2019
Published in:
Contemporary Economic Policy, 37 (2019) 3, Seite 462-475
Language:
English
DOI:
10.1111/coep.12414
ISSN:
1074-3529;
1465-7287
Origination:
Footnote:
Description:
We evaluate the effect of medical and recreational dispensary openings on housing prices in Denver, Colorado. Using an event study approach, we find that the introduction of a new dispensary within a half‐mile radius of a new home increases home prices by approximately 7.7% on average. The effect diminishes for homes further from new dispensaries but is consistent over time. Our results provide important and timely empirical evidence on the socioeconomic impacts of marijuana legalization. (JEL R32, R38, R5)