The Effects of the 1930s HOLC Redlining Maps

• 成果类型: Article
• 署名作者: Aaronson, Daniel; Hartley, Daniel; Mazumder, Bhashkar
• 署名单位: Federal Reserve System - USA; Federal Reserve Bank - Chicago
• 刊物名称: AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY
• ISSN/ISSBN: 1945-7731
• DOI: 10.1257/pol.20190414
• 发表日期: 2021
• 页码: 355-392
• 关键词: owners loan corporation; consumption; MARKETS; schools

摘要

This study uses a boundary design and propensity score methods to study the effects of the 1930s-era Home Owners Loan Corporation (HOLC) redlining maps on the long-run trajectories of urban neighborhoods. The maps led to reduced home ownership rates, house values, and rents and increased racial segregation in later decades. A comparison on either side of a city-level population cutoff that determined whether maps were drawn finds broadly similar conclusions. These results suggest the HOLC maps had meaningful and lasting effects on the development of urban neighborhoods through reduced credit access and subsequent disinvestment.