The Low-Income Housing Tax Credit (LIHTC) is the federal government’s primary means of encouraging private investment in rental housing that is affordable to low income households. This study uses Philadelphia as a case study to examine whether LIHTC-funded developments are more likely to be constructed in gentrifying neighborhoods. This study finds that LIHTC-funded developments are more likely to be built in gentrifying neighborhoods because developers have strong market incentives to, and may be more likely to receive LIHTCs if they, target gentrifying neighborhoods. While constructing LIHTC-funded developments in gentrifying neighborhoods may more meaningfully impact their tenants, building these developments in poor, non-gentrifying neighborhoods seems to be a more efficient use of government resources.
{"title":"Why Low-Income Housing Tax Credits are Flowing to Gentrifying Neighborhoods","authors":"Benjamin Field","doi":"10.2139/SSRN.2778182","DOIUrl":"https://doi.org/10.2139/SSRN.2778182","url":null,"abstract":"The Low-Income Housing Tax Credit (LIHTC) is the federal government’s primary means of encouraging private investment in rental housing that is affordable to low income households. This study uses Philadelphia as a case study to examine whether LIHTC-funded developments are more likely to be constructed in gentrifying neighborhoods. This study finds that LIHTC-funded developments are more likely to be built in gentrifying neighborhoods because developers have strong market incentives to, and may be more likely to receive LIHTCs if they, target gentrifying neighborhoods. While constructing LIHTC-funded developments in gentrifying neighborhoods may more meaningfully impact their tenants, building these developments in poor, non-gentrifying neighborhoods seems to be a more efficient use of government resources.","PeriodicalId":169416,"journal":{"name":"Andrew Young: Domestic Studies Program (Topic)","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126957178","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper traces the history of the "Value of Statistical Life" (VSL), which today is used routinely in benefit-cost analysis of life-saving investments. Schelling (1968) made the crucial move of thinking in terms of risk rather than individual lives, with the hope to dodge the moral thicket of valuing "life." But as recent policy debates have illustrated, his move only thickened it. Tellingly, interest in the subject can be traced back another twenty years before Schelling's essay, to a controversy at the RAND Corporation following its earliest application of operation research to defense planning. RAND wanted to avoid valuing pilot's lives, but the Air Force insisted they confront the issue. Thus, the VSL is not only well acquainted with political controversy; it was born from it.
{"title":"The Cold-War Origins of the Value of Statistical Life (VSL)","authors":"H. Banzhaf","doi":"10.2139/ssrn.2360205","DOIUrl":"https://doi.org/10.2139/ssrn.2360205","url":null,"abstract":"This paper traces the history of the \"Value of Statistical Life\" (VSL), which today is used routinely in benefit-cost analysis of life-saving investments. Schelling (1968) made the crucial move of thinking in terms of risk rather than individual lives, with the hope to dodge the moral thicket of valuing \"life.\" But as recent policy debates have illustrated, his move only thickened it. Tellingly, interest in the subject can be traced back another twenty years before Schelling's essay, to a controversy at the RAND Corporation following its earliest application of operation research to defense planning. RAND wanted to avoid valuing pilot's lives, but the Air Force insisted they confront the issue. Thus, the VSL is not only well acquainted with political controversy; it was born from it.","PeriodicalId":169416,"journal":{"name":"Andrew Young: Domestic Studies Program (Topic)","volume":"223 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130664914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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