Making housing affordable? The local effects of relaxing land-use regulation
研究城市内放松土地使用管制（提高容积率）对住房供应和租金的影响，发现容积率提升在5-10年内使居住空间和住房单元增加约9%，且对租金无显著推升作用，表明该政策有助于增加住房可负担性，但效果取决于政策设计并需数年显现。
This paper examines the effects of relaxing land-use regulations on housing supply and rents at the local intra-city level. We apply a staggered difference-in-difference model, exploiting exogenous differences in the treatment timing of zoning plan reforms as identifying variation. Increasing the allowable floor-to-area ratio (FAR), i.e., upzoning, significantly increases the living space and housing units by approximately 9% in the subsequent five to ten years. This effect is stronger for larger upzonings, for rasters where zoning is binding, and where rents are high. Furthermore, upzoning leads to no difference in hedonic rents between upzoned and later-upzoned rasters. These results show that upzoning is a viable policy for increasing housing affordability. However, the effects depend on the upzoning policy design and take several years to materialize.