高覆盖租金调控政策的有效性和供给效应

IF 3.5 2区 经济学 Q1 ECONOMICS
Jordi Jofre-Monseny , Rodrigo Martínez-Mazza , Mariona Segú
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引用次数: 5

摘要

对住房负担能力的担忧在世界各地的城市普遍存在,引发了对租金控制政策的讨论。本文研究了加泰罗尼亚2020年通过的租金控制政策的影响,该政策适用于部分但并非所有城市。该政策实际上涵盖了所有租赁市场,并强制广告和租赁协议规定了适用的租金上限,以确保执行。为了确定租金控制法规对租赁市场的因果影响,我们利用租赁协议的注册微观数据,并实施差异回归和事件研究设计。我们的研究结果表明,该规定将平均租金降低了约4%至6%。我们没有发现租赁单元供应减少的证据,以签署和终止的协议数量或租赁单元的活跃库存来衡量。我们实施了几项稳健性测试,以解决与新冠肺炎相关的识别问题。我们的研究结果表明,租金控制政策可以有效降低租金价格,而不一定会缩小租赁市场。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Effectiveness and supply effects of high-coverage rent control policies

Concerns about housing affordability are widespread in cities worldwide, prompting discussions about rent control policies. This paper studies the effects of a rent control policy adopted in Catalonia in 2020 that applied to some but not all municipalities. The policy virtually covered all the rental market and forced ads and tenancy agreements to specify the applicable rent cap to ensure enforcement. To identify the causal effect of the rent control regulation on the rental market, we exploit register microdata of tenancy agreements and implement difference-in-differences regressions and event-study designs. Our results indicate that the regulation reduced average rents paid by about 4% to 6%. We do not find evidence of a reduction in the supply of rental units, as measured by the number of signed and ended agreements or the active stock of rental units. We implement several robustness tests to address identification concerns related to Covid-19. Our results suggest that rent control policies can effectively reduce rental prices without necessarily shrinking the rental market.

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来源期刊
CiteScore
5.30
自引率
9.70%
发文量
63
期刊介绍: Regional Science and Urban Economics facilitates and encourages high-quality scholarship on important issues in regional and urban economics. It publishes significant contributions that are theoretical or empirical, positive or normative. It solicits original papers with a spatial dimension that can be of interest to economists. Empirical papers studying causal mechanisms are expected to propose a convincing identification strategy.
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