We examine the effect of exposure to toxic releases that are tracked by the Toxic Release Inventory (TRI) on county-level infant and fetal mortality rates in the United States between 1989-2002. We find significant adverse effects of TRI concentrations on infant mortality rates, but not on fetal mortality rates. In particular, we estimate that the average county-level decrease in aggregate TRI concentrations saved in excess of 25,000 infant lives from 1989-2002. Using a value of life of $1.8M - $8.7M, the savings in lives would be valued at $45B - $217.5B. We also find that the effect of toxic exposure on health outcomes varies across pollution media: air pollution has a larger impact on health outcomes than either water or land. And, within air pollution, releases of carcinogens are parti...
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