TY - JOUR
T1 - Teardowns and demolitions in Chicago, 2000-2014
T2 - A conditionally parametric approach
AU - McMillen, Daniel
PY - 2017/1/1
Y1 - 2017/1/1
N2 - Conditionally parametric (CPAR) Probit models are used to estimate the probability that a demolition permit was issued for residential properties in Chicago for 2000-2014. The approach has significant advantages when analyzing demolition permits because the coefficients vary across locations where demolition is followed by construction of a new building and locations where demolition leads to a vacant lot. In prime areas of the city where demolition permits are associated with teardowns, the results indicate that permits are more likely to be issued for small homes on large lots. In contrast, homes on small lots are more likely to be demolished in low-priced areas of the city, and building area has less influence on the demolition probability. All estimated coefficients vary substantially across the sample area, suggesting that a simple, global parametric specification is not sufficient for modeling demolitions in a large city such as Chicago.
AB - Conditionally parametric (CPAR) Probit models are used to estimate the probability that a demolition permit was issued for residential properties in Chicago for 2000-2014. The approach has significant advantages when analyzing demolition permits because the coefficients vary across locations where demolition is followed by construction of a new building and locations where demolition leads to a vacant lot. In prime areas of the city where demolition permits are associated with teardowns, the results indicate that permits are more likely to be issued for small homes on large lots. In contrast, homes on small lots are more likely to be demolished in low-priced areas of the city, and building area has less influence on the demolition probability. All estimated coefficients vary substantially across the sample area, suggesting that a simple, global parametric specification is not sufficient for modeling demolitions in a large city such as Chicago.
UR - http://www.scopus.com/inward/record.url?scp=85037846991&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85037846991&partnerID=8YFLogxK
U2 - 10.3917/reco.683.0511
DO - 10.3917/reco.683.0511
M3 - Article
AN - SCOPUS:85037846991
VL - 68
SP - 511
EP - 535
JO - Revue Economique
JF - Revue Economique
SN - 0035-2764
IS - 3
ER -