The Misallocation of Housing Under Rent Control
提出一个实证框架，通过比较租金管制与自由市场下不同人口群体的住房消费模式，发现纽约市租金管制导致公寓在不同群体间显著错配，其福利损失可能超过供给不足的损失。
The standard analysis of price controls assumes that goods are efficiently allocated, even when there are shortages. But if shortages mean that goods are randomly allocated across the consumers that want them, the welfare costs from misallocation may be greater than the undersupply costs. We develop a framework to empirically test for misallocation. The methodology compares consumption patterns for demographic subgroups in rent-controlled and free-market places. We find that in New York City, which is rent-controlled, an economically and statistically significant fraction of apartments appears to be misallocated across demographic subgroups.