The Welfare Impacts of Urban Renewal and Forced Relocation: Evidence from Chicago’s HOPE VI Demolitions

The views expressed in this paper are solely those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of Philadelphia or the Federal Reserve System. This paper builds on and incorporates material from an earlier working paper, Urban Renewal and Inequality: Evidence from Chicago's Public Housing Demolitions, NBER Working Paper No. 30838, January 2023, which it supersedes. We thank Leah Brooks, Francisco Gallego, Jesse Gregory, and Andrii Parkhomenko for insightful discussions. We are also grateful for helpful comments from Dionissi Aliprantis, Pat Bayer, Donald Davis, Tomas Dominguez-Iino, Fernando Ferreira, Cecile Gaubert, Elisa Giannone, Edward Glaeser, Jessie Handbury, Anders Humlum, Erik Hurst, Jeff Lin, Matt Notowidigdo, Juan Pantano, Esteban Rossi-Hansberg, Maisy Wong, and seminar participants at the University of Wisconsin, Notre Dame Spatial Workshop, OIGI Fall Conference, Atlanta Fed, University of Rochester, SMU, Central Bank of Colombia, University of Chicago Booth School of Business, Barcelona Summer Forum Trade Workshop, the NBER Real Estate and Urban Economics Summer Institute 2022 Workshop, the Princeton Spatial Conference, the Federal Reserve Bank of Cleveland, the Urban Economics Association Fall 2022 Meeting, the 2022 Inaugural Conference on Economic Opportunity, and the University of California, Berkeley. Akash Banerjee, Elias Van Emmerick, and Vanessa Ntungwanayo provided outstanding research assistance. Any errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.