This implies that the marginal implicit price of an amenity at a given point on the hedonic price schedule equals the marginal willingness to pay of the consumer who locates on that point of the hedonic price schedule. The tablet dissolves into the liquid and releases some of the chemicals to purify the water instantly. Annual cost to make a river-mile fishable, 8. \end{equation*}. The inverse propensity score reweighted estimates are designed to reflect the entire population of U.S. cities. Season controls are a cubic polynomial in day of year. Data include decennial census years 19702000. Row 4 is calculated following the method described in Online Appendix B.4. We discuss a range of pass-through estimates including these for cost-effectiveness and cost-benefit analysis. WHAT'S AT STAKE? None of these subsets of grants considered has a ratio of measured benefits to costs above one, though many of the confidence regions cannot reject a ratio of 1. Optimizing consumers should equate the marginal disutility of pollution to the marginal cost of protection from pollution. The share of waters that are fishable has grown by 12 percentage points since the Clean Water Act. Analyses of the Clean Air Act relying solely on hedonic estimates generally have smaller cost-benefit ratios; the EPAs benefit numbers for air pollution rely heavily on estimated mortality impacts. The 30-year duration of these benefits is also consistent with, though on the lower end of, engineering predictions. An official website of the United States government. We find large declines in most pollutants that the Clean Water Act targeted. A few notes are important for interpreting these statistics. TableVI separately lists three types of costs: federal expenditures on capital, local expenditures on capital, and operation and maintenance costs. It is interesting to consider possible explanations for these slowing trends. We also report event study graphs of outcomes relative to the year when a facility receives a grant: \begin{align} We find that by most measures, U.S. water pollution has declined since 1972, though some evidence suggests it may have declined at a faster rate before 1972. Third, these grants could lead to increased city taxes, sewer fees, or other local costs that depress home values. saturation increase/10, 7. These controls could help address possible omitted variables bias due to city growth in these difference-in-differences regressions, but are potentially a case of bad controls (Angrist and Pischke 2009) because they could be affected by grants. Event study graphs for other pollutants are consistent with these results, but are less precise (Online Appendix FigureIV). That study does not separately identify the effect of the pollution tax from the effect of the abatement subsidy. We analyze all these physical pollutants in levels, though Online Appendix Tables III and VI show results also in logs. Others relate drinking water quality directly to health (Currie etal. Panel A estimates pass-through modestly above 1 since it excludes the required municipal copayment. The bottom decile of counties, for example, includes ratios of measured benefits to costs of below 0.01. Time of day controls are a cubic polynomial in hour of day. Grant costs include local and federal capital expenditures plus operating and maintenance costs over the 30-year life span for which we estimate grants affect water pollution. It is possible that areas with more pollution data may be of greater interest; for example, FigureI, Panel C shows more monitoring sites in more populated areas. GLS estimates the effect for the average pollution reading rather than for the average plant downstream year. The wastewater treatment plants that are the focus of this article also receive effluent permits through the NPDES program, so our analysis of grants may also reflect NPDES permits distributed to wastewater treatment plants. The share of waters that are not fishable fell on average by about half a percentage point per year, and the share that are not swimmable fell at a similar rate (TableI, Panel A). This article assembles an array of new data to assess water pollutions trends, causes, and welfare consequences. The analysis includes plants that never received a grant (which have all event study indicators 1[Gp,y = 1] equal to 0), plants that received a single grant (which in any observation have only a single event indicator equal to 1), and plants that received more than one grant (which in any observation can have several event indicators equal to 1). Asterisks denote p-value < .10 (*), < .05 (**), or < .01 (***). Notably, almost half of this decline in state and local wastewater treatment capital spending occurred before the Clean Water Act. Cropper and Oates (1992) describe the Clean Water Act as the only major environmental regulation of the 1970s and 1980s that does not have health as its primary goal. Each grant significantly decreased pollution for 25 miles downstream, and these benefits last for around 30years. Column (1) reports a basic difference-in-differences regression with nominal dollars. For instance, the Clean Water Act's grantmaking program has cost the U.S. government about $650 billion total, or about $1.5 million per year to make one mile of river fishable. They give similar qualitative conclusions as the main results, though exact point estimates vary. The largest ratios of estimated benefits to costs are for areas where outdoor fishing or swimming is common (ratio of 0.53), for high-amenity urban areas (ratio of 0.40), and in the South (ratio of 0.84). We estimate many sensitivity analyses, including restricting to high-quality subsamples of the data, adding important controls, weighting by population, and many others. Because water pollution flows in a known direction, areas upstream of a treatment plant provide a natural counterfactual for areas downstream of a plant. If sewer fees were particularly important, then one would expect rents to increase more than home values do; if anything, the estimates of TableV suggest the opposite. The Clean Water Act's grantmaking system creates higher costs than market-based regulations, argue Keiser and Shapiro. Leads decrease of about 10% a year may be related to air pollution regulations, such as prohibiting leaded gasoline. Panel B analyzes how grants affect log mean rental values. The definition also includes standards for boating and drinking water that we do not analyze. Our approach focuses on the effects of cleaning up an individual site and is not as well suited to capture the potentially distinct effects of cleaning up entire river systems. The Office of Water (OW) ensures drinking water is safe, and restores and maintains oceans, watersheds, and their aquatic ecosystems to protect human health, support economic and recreational activities, and provide healthy habitat for fish, plants, and wildlife. The Clean Water, Clean Air, and Green Jobs Environmental Bond Act of 2022 (Proposition 1) will provide $4.2 billion to projects across New York State that contribute to improving public health, increasing access to nature, and protecting people from deadly heat and flooding. The USEPAs (2000a) cost-benefit analysis of the Clean Water Act estimates that nonuse values are a sixth as large as use values. Estimates appear in Online Appendix TableVIII and discussion appears in Online Appendix E.3. The 1.4 ratio and the 34-mile calculation from the previous paragraph both use survey weights. Before The Clean Water Act. Sample size in all regressions is 6,336. In 1969 Ohio's Cuyahoga River was so fouled by industrial pollution that the river caught on fire. This does not seem consistent with our results because it would likely create pretrends in pollution or home values, whereas we observe none. Row 7 equals row 1 divided by 30 times row 5, since it assumes water quality improvements accrue for 30years. In this sense, the existence of the Clean Water Act did crowd out aggregate municipal investment in wastewater treatment. ) is that it reflects the equilibrium of firms that supply housing and consumers that demand housing. Moreover, the share of industrial water discharge that was treated by some abatement technology grew substantially in the 1960s (U.S. Census Bureau 1971). Most others are statistically indistinguishable from the mean grant, though there is some moderate (if statistically insignificant) heterogeneity in point estimates. Propensity score for appearing in the balanced panel of cities is estimated as a function of log city population, log city total municipal expenditure, city type (municipality or township), and census division fixed effects, where city population and expenditure are averaged over all years of the data. This implies that pollution levels in upstream and downstream waters had similar trends before grants were received. Another possible channel involves ecology. Adler Robert W., Landman Jessica C., Cameron Diane M.. Angrist Joshua D., Pischke Jrn-Steffen, Artell Janne, Ahtiainen Heini, Pouta Eija, , Boscoe Francis P., Henry Kevin A., Zdeb Michael S., , Carson Richard T., Mitchell Robert Cameron, , Currie Janet, Zivin Joshua Graff, Meckel Katherine, Neidell Matthew, Schlenker Wolfram, , Deschenes Olivier, Greenstone Michael, Shapiro Joseph S., , Faulkner H., Green A., Pellaumail K., Weaver T., , Gianessi Leonard P., Peskin Henry M., , Jeon Yongsik, Herriges Joseph A., Kling Catherine L., Downing John, , Kahn Matthew E., Li Pei, Zhao Kaxuan, , Keiser David A., Kling Catherine L., Shapiro Joseph S., , Kling Catherine L., Phaneuf Daniel J., Zhao Jinhua, , Leggett Christopher G., Bockstael Nancy E., , Lipscomb Molly, Mobarak Ahmed Mushfiq, , Muehlenbachs Lucija, Spiller Elisheba, Timmins Christopher, , Muller Nicholas Z., Mendelsohn Robert, , Muller Nicholas Z., Mendelsohn Robert, Nordhaus William, , Olmstead Sheila M., Muehlenbachs Lucija A., Shih Jhih-Shyang, Chu Ziyan, Krupnick Alan J., , Peiser Richard B., Smith Lawrence B., , Poor P. Joan, Boyle Kevin J., Taylor Laura O., Bouchard Roy, , Smith Richard A., Alexander Richard B., Wolman M. Gordon, , Smith V. Kerry, Wolloh Carlos Valcarcel, , Steinwender Astrid, Gundacker Caludia, Wittmann Karl J., , Wu Junjie, Adams Richard M., Kling Catherine L., Tanaka Katsuya, , Oxford University Press is a department of the University of Oxford. Online Appendix B.3 describes the rule we use to choose indicators for this list; it mainly reflects the pollutants used in the USEPAs (1974) first major water pollution report after the Clean Water Act. The census long form has housing data and was collected from one in six households on average, but the exact proportion sampled varies across tracts. 2013). Most recent cost-benefit analyses of the Clean Water Act estimate that a substantial share of benefits come from recreation and aesthetics channels (Lyon and Farrow 1995; Freeman 2000; USEPA 2000a). Pros of legalism are There were much fewer crimes in china and the laws. Considering all owner-occupied homes within 25 miles of the river, the estimated ratio of the grants aggregate effects on home values to the grants costs is 0.26. Fourth, to obtain regression estimates for the average housing unit and provide an efficient response to heteroskedasticity, we include GLS weights proportional to the number of total housing units in the plant-year observation and to the sampling probability.17. Open Document. Online Appendix FigureVII illustrates. The offer function is the firms isoprofit curve in the trade-off between home price and attribute j. This map assumes the same hedonic price function and reflects spatial heterogeneity in housing unit density.25 The map shows that the ratio of measured benefits to costs is larger in more populated counties. This assumption could also fail if changes in governments effectiveness at receiving grants are correlated with governments effectiveness at operating treatment plants. The Clean Water Act (CWA) contains a number of complex and interrelated elements of overall water quality management. Home prices and rents are deflated to 2014 dollars by the Bureau of Labor Statistics consumer price index for urban consumers. GLS based on the number of underlying pollution readings in each plant downstream year is an efficient response to heteroskedasticity since we have grouped data. Panels A and B reflect the classic hedonic model, with fixed housing stock. We impute these values from a panel regression of log mean home values on year fixed effects and tract fixed effects. The negatives is it is not strongly enforced, violators only pay a small fine, countries can exempt themselves from certain species. They conclude that nothing has changed since 1975. Other sources note that these time series trends are consistent with aggregate crowding out (Jondrow and Levy 1984; CBO 1985). 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Each observation in a regression is a plant-downstream-year tuple. Data and code replicating tables and figures in this article can be found in Keiser and Shapiro (2018), in the Harvard Dataverse, doi:10.7910/DVN/2JRHN6. But if local governments ultimately pay these costs, they could depress home values. Column (1) includes only plants analyzed in column (2) of TableII. These pass-through estimates also speak to the broader flypaper literature in public finance, so named to reflect its finding that federal government spending sticks where it hits. Researchers have estimated the pass-through of federal grants to local expenditure in education, social assistance, and other public services. Analysis includes homes within a given distance of downstream river segments. Dependent variable is municipal sewerage capital investment. Although a point estimate of 0.41 for the ratio of benefits to costs does not exceed 1, one should interpret this value in light of the discussion from the next subsection that it may be a lower bound on true benefits. Please click here to see any active alerts. The Author(s) 2018. Our finding that benefits last about as long as engineering estimates suggest (30years) and for only the expected pollutants also are not exactly what this story would predict. Under the CWA, EPA has implemented pollution control programs such as setting wastewater standards for industry. The health of many aquatic species (so indirectly, the benefit people derive from a river) may depend nonlinearly on the area of clean water. It remains one of our nation's most vital safeguards for the health and safety of our communities and our environment. The statistic we use reflects the binary cutoff of whether a majority of readings are fishable. For the few governments that do not report when their fiscal year ends, we assume they report by calendar year. Effects of Clean Water Act Grants on Log Mean Home Values: Event Study Graphs. Asterisks denote p-value <.01 (***). 33 U.S.C. \end{equation}, \begin{equation*} Engineering calculations in USEPA (2000c) suggest that the efficiency with which treatment plants removed pollution grew faster in the 1960s than in the 1980s or 1990s. 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