【摘要】To test how crime affects economic activity, we use point-specific data on crime, com-mercial property sales and assessed values from New York City, relying on an instrumental variablesstrategy. We find that crime reduces commercial property values, and the magnitude of the effectdepends on the type and geography of crime. Elasticities range from ? 0.1 to ?0.5. We find strongerevidence for negative violent crime effects in neighborhoods with lower incomes and higher shares ofminority residents. Thus, disadvantaged neighborhoods are doubly harmed by crime—they have highercrime rates and those crimes have stronger effects on economic activity.

【文献来源】Lens M C;Meltzer R.Journal of Regional Science.2016（3）