|Publication type:||Article in scientific journal|
|Type of review:||Peer review (publication)|
|Title:||Immigration and housing rents in Switzerland : identification in a shift-share research design|
|Published in:||Economics Bulletin|
|Publisher / Ed. Institution:||Economics Bulletin|
|Subject (DDC):||330: Economics|
|Abstract:||Drawing on geo-coded property data, we exploit aggregate immigration shocks in a shift-share instrument as the identifying quasi-random variation - conditional on control variables and fixed effects - to estimate the elasticity of residential housing rents to local immigration in Switzerland. In our balanced sample of municipalities the estimated average elasticity ranges between 2.40 and 2.98. Interestingly, exposure-robust inference, which avoids potentially downward biased standard errors in shift-share regressions as shown by Adao et al. (2019) (AKM), does not systematically decrease the precision of the estimated immigration effect in our application. However, these exposurerobust standard errors reveal that the elasticity of housing rents to immigration does not statistically differ from unity across specifications at the 5% significance level.|
|Fulltext version:||Published version|
|License (according to publishing contract):||Licence according to publishing contract|
|Departement:||School of Management and Law|
|Organisational Unit:||Center for Economic Policy (FWP)|
|Appears in collections:||Publikationen School of Management and Law|
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