Does a 180-day cap on short-term rentals affect housing markets? Evidence from regional New South Wales
研究了澳大利亚新南威尔士州多地区对短期租赁实施180天年度上限的政策效果，发现该上限仅在实施初期短暂减少活跃短租，对长期租金无持续影响，表明缺乏有效执行时该政策难以达成目标。
With a strong post-pandemic rebound in domestic and international travel, debates regarding how best to regulate short-term rentals have surfaced as a key policy topic. This paper examines the dynamic causal impacts of a 180-day cap on short- and long-term rental markets in multiple regions in New South Wales, Australia. The analysis reveals a temporary reduction of active short-term rentals during the early implementation, which quickly dissipated. No evidence is found for the cap having any sustained impact on long-term rent levels. The results suggest that without effective enforcement, a 180-day cap alone may be insufficient to achieve policy objectives.