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Replication data for: The Contagion Effect of Neighboring Foreclosures

Version
V0
Resource Type
Dataset
Creator
  • Towe, Charles
  • Lawley, Chad
Publication Date
2013-01-01
Description
  • 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)
Availability
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Relations
  • Is supplemented by
    DOI: 10.1257/pol.5.2.313 (Text)
Publications
  • 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: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E114823