The Impacts of Stop, Question and Frisk: Evidence From The Housing Market in New York City

Stop, Question and Frisk, an aggressive policing strategy, was employed in New York City until a judge ruled it unconstitutional in 2013. This study estimates the strategy's amenity value using property transactions and variation in Stop, Question and Frisk activity resulting from the trial. Results indicate prices increased by 5\% for properties most exposed to Stop, Question and Frisk, relative to nearby properties, once the NYPD was ordered to cease Stop, Question and Frisk. Importantly, housing prices seem to have only responded to changes along the extensive margin of Stop, Question and Frisk, not the intensive margin.