My da|ra Login
Detailed view

Replication data for: The Contagion Effect of Neighboring Foreclosures
- Towe, Charles
- Lawley, Chad
-
Abstract
We examine the contagion effect of residential foreclosures and find strong evidence of a social interactions influence on default decisions where the interaction is based on neighbors’ behavior in a previous period. Using a unique spatially explicit parcel-level dataset documenting residential foreclosures in Maryland for the years 2006-2009 and a highly localized neighborhood definition, based on 13 nearest neighbors, we find that a neighbor in foreclosure increases the hazard of additional defaults by 18 percent. This feedback effect goes beyond a temporary reduction in local house prices and implies a negative social multiplier effect of foreclosures. (JEL R23, R31)
-
Is supplemented by
DOI: 10.1257/pol.5.2.313 (Text)
-
Towe, Charles, and Chad Lawley. “The Contagion Effect of Neighboring Foreclosures.” American Economic Journal: Economic Policy 5, no. 2 (May 2013): 313–35. https://doi.org/10.1257/pol.5.2.313.
- ID: 10.1257/pol.5.2.313 (DOI)
Update Metadata: 2019-10-13 | Issue Number: 1 | Registration Date: 2019-10-13
Towe, Charles; Lawley, Chad (2013): Replication data for: The Contagion Effect of Neighboring Foreclosures. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E114823V1