摘要Who Benefits from Place-Based Policies? Job Growth from Opportunity Zones

区域与城市经济学前沿讲座系列(Virtual Workshops on Topics in Regional and Urban Economics: China, Asia, and Beyond)由暨南大学经济与社会研究院与北京大学光华管理学院合作举办,旨在讨论目前城市经济学和房地产经济学领域出现的各种前沿研究和热门话题,为学术界带来更便捷的学术交流平台,为业界以及政府提供更科学的政策建议。讲座采用线上会议形式开展。

题目:Who Benefits from Place-Based Policies? Job Growth from Opportunity Zones

主讲人:Alina Arefeva,Wisconsin School of Business




Alina Arefeva is an Assistant Professor of Real Estate at the Wisconsin School of Business. Prior to that, she taught at the Johns Hopkins Carey Business School. Her research focus is the impact of microstructure, institutions, and policies on real estate and financial markets. Alina was born in Turkmenistan. She earned her BA and MA in Economics from the Higher School of Economics (HSE) and MA in Economics from the New Economic School (NES) in Moscow, and her Ph.D. in Economics at Stanford University.


The Tax Cuts and Jobs Act of 2017 established a new program called “Opportunity Zones” that created tax advantages for investment locating in Census tracts with relatively low income or high poverty. Importantly, only 25% of eligible tracts in each state could be designated as an Opportunity Zone. We use detailed establishment-level data and a difference-in-difference (DiD) approach to identify the designation of a tract as an Opportunity Zone on job creation. We find the Opportunity Zone designation increased employment growth relative to comparable tracts by a statistically significant 2-4 percentage points over the 2017-2019 period. This result holds for many different industries and for a variety of skill levels.