Making housing affordable? The local effects of relaxing land-use regulation

IF 5.7 1区 经济学 Q1 ECONOMICS
Simon Büchler , Elena Lutz
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引用次数: 0

Abstract

This paper examines the effects of relaxing land-use regulations on housing supply and rents at the local intra-city level. We apply a staggered difference-in-difference model, exploiting exogenous differences in the treatment timing of zoning plan reforms as identifying variation. Increasing the allowable floor-to-area ratio (FAR), i.e., upzoning, significantly increases the living space and housing units by approximately 9% in the subsequent five to ten years. This effect is stronger for larger upzonings, for rasters where zoning is binding, and where rents are high. Furthermore, upzoning leads to no difference in hedonic rents between upzoned and later-upzoned rasters. These results show that upzoning is a viable policy for increasing housing affordability. However, the effects depend on the upzoning policy design and take several years to materialize.

让人们买得起住房?放宽土地使用管制对当地的影响
本文研究了放宽土地使用法规对当地城市内部住房供给和租金的影响。我们采用了一个交错差分模型,利用分区规划改革处理时间上的外生差异作为识别变量。提高容许容积率(FAR),即提高分区,会在随后的五到十年内使居住面积和住房单元大幅增加约 9%。对于面积较大、分区具有约束力以及租金较高的区域,这种效果更为明显。此外,区划调整后,区划调整前和区划调整后的地块之间的保值租金没有差异。这些结果表明,分区规划是提高住房可负担性的可行政策。然而,其效果取决于分区政策的设计,并且需要几年的时间才能实现。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
10.60
自引率
4.80%
发文量
64
期刊介绍: The Journal of Urban Economics provides a focal point for the publication of research papers in the rapidly expanding field of urban economics. It publishes papers of great scholarly merit on a wide range of topics and employing a wide range of approaches to urban economics. The Journal welcomes papers that are theoretical or empirical, positive or normative. Although the Journal is not intended to be multidisciplinary, papers by noneconomists are welcome if they are of interest to economists. Brief Notes are also published if they lie within the purview of the Journal and if they contain new information, comment on published work, or new theoretical suggestions.
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