封锁对城市租赁市场的局部和短期影响:来自上海的证据

IF 0.5 4区 经济学 Q4 ECONOMICS
Yanpeng Jiang, Xiaochi Shen
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引用次数: 0

摘要

本文研究了新冠肺炎疫情对2022年下半年上海租赁市场的局部和短期影响。采用差异中的差异方法,我们发现,在封城之后,租金价格平均下降了1.5%,其中企业密度高的地区下降了2.0%,郊区没有明显变化。事件研究分析进一步显示,这一降幅在封锁后2个月达到3.0%的峰值。这种下降是暂时的,租金在12个月内恢复到封锁前的水平。鲁棒性检查和与房屋销售价格的比较证实了没有显著的溢出效应或结构转移。这些发现强调了封锁导致的租赁市场中断的局域性和暂时性,可能对考虑应对短期危机的住房政策制定者有价值。
本文章由计算机程序翻译,如有差异,请以英文原文为准。

Localized and Short-Term Effects of Lockdowns on Urban Rental Markets: Evidence From Shanghai

Localized and Short-Term Effects of Lockdowns on Urban Rental Markets: Evidence From Shanghai

This paper investigates the localized and short-term effects of COVID-19-induced lockdowns on Shanghai's rental market in the second half of 2022. Using Difference-in-Differences methodologies, we find that rental prices declined by 1.5% following the lockdowns on average, with areas characterized by a high density of companies falling by 2.0% and no significant change in suburban areas. Event-study analysis further reveals that this decline peaked at 3.0% 2 months post-lockdown. This decline was temporary with rental prices returning to pre-lockdown levels within 12 months. Robustness checks and comparisons with housing sale prices confirm the absence of significant spillover effects or structural shifts. These findings underscore the localized and temporary nature of lockdown-induced disruptions in the rental market and may be valuable to housing policymakers considering responses to short-term crises.

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