Short-term rentals and the housing market: Quasi-experimental evidence from Airbnb in Los Angeles *

被引：45

作者：

Koster, Hans R. A. ^{[1
,2
,3
,4
,5
]}

van Ommeren, Jos ^{[1
,3
]}

Volkhausen, Nicolas ^{[1
]}

机构：

[1] Vrije Univ Amsterdam, Dept Spatial Econ, De Boelelaan 1105, NL-1081 HV Amsterdam, Netherlands

[2] Natl Res Univ Higher Sch Econ, Moscow, Russia

[3] Tinbergen Inst, Amsterdam, Netherlands

[4] London Sch Econ, Ctr Econ Policy Res, London, England

[5] London Sch Econ, Ctr Econ Performance, London, England

来源：

JOURNAL OF URBAN ECONOMICS | 2021年 / 124卷

关键词：

Short-term rentals; Souse prices; Regulation; Supply effects; Externalities; REGRESSION DISCONTINUITY DESIGNS; LAND-USE REGULATION; EXTERNALITIES EVIDENCE; PROPERTY-VALUES; PRICES; SCHOOLS; ECONOMY; CHOICE; COSTS;

D O I：

10.1016/j.jue.2021.103356

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Online short-term rental (STR) platforms such as Airbnb have grown spectacularly. We study the effects of regulation of these platforms on the housing market using a quasi-experimental research design. 18 out of 88 cities in Los Angeles County have severely restricted short-term rentals by adopting Home Sharing Ordinances. We apply a panel regression-discontinuity design around the cities' borders. Ordinances reduced listings by 50% and housing prices by 2%. Additional difference-in-differences estimates show that ordinances reduced rents also by 2%. These estimates imply large effects of Airbnb on property values in areas attractive to tourists (e.g. an increase in house prices of 15% within 2.5km of Hollywood's Walk of Fame).

引用

页数：33

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