Returns to Political Contributions in Local Housing Markets
研究了美国城市中与市长有政治关联的开发商如何影响住房供应，发现关联开发商销售更多新房，且市长收到的开发商捐款越多，城市发放的新房许可证数量增加近70%。
Abstract This paper examines how politically connected firms shape housing supply in U.S. cities. Using new data on campaign donations to U.S. mayors and a regression discontinuity design, I present three findings. First, developers connected to the mayor sell more new housing units. Second, more sales of new housing by connected developers coincide with higher local housing supply: cities where mayors received more developer donations issue nearly 70 percent more permits for new housing units. Third, differences in mayors’ pre-existing policy stances—rather than connections to developers—is a quantitatively larger determinant of local housing supply.