In this work, we assess the role of a specific type of organized crime in influencing choices on where living within the city territory, and consequently, volatility in house prices. More specifically, we test how organized crime killing may influence house pricing behaviors. Firstly, we show evidences about how organized crime is associated with higher inequality of housing prices for Italian cities in 2011. Then, by collecting and geo referencing data on the city of Naples for the period 2002-2016, we test for the direct influence of homicides on the relevant territory, as on the neighboring districts. Results show a negative and significant impact of killing on the house prices either for sales or for rents and a positive effect in neighboring district, driving increases in within-city inequality.

Lavezzi Andrea Mario, Battisti Michele, Bernardo Giovanni, Maggio Giuseppe (2019). SHOOTING DOWN THE PRICE: EVIDENCE FROM MAFIA HOMICIDES AND HOUSING MARKET VOLATILITY. In Rimini Center for Economic Analysis Working Papers.

SHOOTING DOWN THE PRICE: EVIDENCE FROM MAFIA HOMICIDES AND HOUSING MARKET VOLATILITY

Lavezzi Andrea Mario
;
Battisti Michele
;
Bernardo Giovanni
;
Maggio Giuseppe
2019-01-01

Abstract

In this work, we assess the role of a specific type of organized crime in influencing choices on where living within the city territory, and consequently, volatility in house prices. More specifically, we test how organized crime killing may influence house pricing behaviors. Firstly, we show evidences about how organized crime is associated with higher inequality of housing prices for Italian cities in 2011. Then, by collecting and geo referencing data on the city of Naples for the period 2002-2016, we test for the direct influence of homicides on the relevant territory, as on the neighboring districts. Results show a negative and significant impact of killing on the house prices either for sales or for rents and a positive effect in neighboring district, driving increases in within-city inequality.
Settore SECS-P/01 - Economia Politica
http://rcea.org/RePEc/pdf/wp19-05.pdf
Lavezzi Andrea Mario, Battisti Michele, Bernardo Giovanni, Maggio Giuseppe (2019). SHOOTING DOWN THE PRICE: EVIDENCE FROM MAFIA HOMICIDES AND HOUSING MARKET VOLATILITY. In Rimini Center for Economic Analysis Working Papers.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10447/386932
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