Under the (Neighbor)Hood: Understanding Interactions Among Zoning Regulations
研究大波士顿地区多种分区法规如何共同影响住房供应、价格和租金，发现放宽密度限制最有效，并模拟了马萨诸塞州新法对郊区租金和价格的长期影响。
Abstract We study how various zoning regulations combine to affect housing supply, prices, and rents of single- and multifamily homes using novel lot-level zoning data from Greater Boston and a cross-sectional boundary discontinuity design at regulation boundaries. Looser density restrictions, alone or with other less restrictive regulations, are most effective in increasing supply and reducing per-housing-unit rents and prices. We theoretically and empirically show that restrictive zoning regulations shift housing stock towards larger units, increasing prices per housing unit. Counterfactuals imply that a recent Massachusetts law increasing building density near transit can reduce long-run rents and prices, particularly in suburbs.