| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29440 |
| 来源ID | Working Paper 29440 |
| Estimating the Economic Value of Zoning Reform | |
| Santosh Anagol; Fernando V. Ferreira; Jonah M. Rexer | |
| 发表日期 | 2021-11-01 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We develop a framework to estimate the economic value of a recent zoning reform in the city of Sao Paulo, which altered maximum permitted construction at the city-block level. Using a spatial regression discontinuity design, we find that developers file for more multi-family construction permits in blocks with higher allowable densities. We incorporate these micro-estimates into an equilibrium model of housing supply and demand to estimate the long term impact of zoning changes. Supply responses from the reform produce a 2.2 percent increase in the total housing stock, leading to a 0.5% reduction in prices on average, with substantial heterogeneity across neighborhoods. Consumer welfare gains due to price reductions are small, but increase 4-fold once we account for changes in the built environment, with more gains accruing to college-educated and higher income households. However, nominal house price losses faced by existing homeowners and landlords overshadow all consumer welfare gains. |
| 主题 | Public Economics ; Development and Growth ; Development ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w29440 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587113 |
| 推荐引用方式 GB/T 7714 | Santosh Anagol,Fernando V. Ferreira,Jonah M. Rexer. Estimating the Economic Value of Zoning Reform. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29440.pdf（3788KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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