Empty homes, longer commutes: The unintended consequences of more restrictive local planning

• 成果类型: Article
• 署名作者: Cheshire, Paul; Hilber, Christian A. L.; Koster, Hans R. A.
• 署名单位: University of London; London School Economics & Political Science; Vrije Universiteit Amsterdam; Tinbergen Institute; Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science; HSE University (National Research University Higher School of Economics)
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/j.jpubeco.2017.12.006
• 发表日期: 2018
• 页码: 126-151
• 关键词: Residential vacancy rates; Housing supply constraints; Land use regulation

摘要

We investigate the impact of land use regulation on housing vacancy rates. Using a 30-year panel dataset on land use regulation for 350 English Local Authorities (LAs) and addressing potential reverse causation and other endogeneity concerns, we fund that tighter local planning constraints increase local housing vacancy rates: a one standard deviation increase in restrictiveness causes the local vacancy rate to increase by 0.9 percentage points (23%). The same increase in local restrictiveness also causes a 6.1% rise in commuting distances. The results underline the interdependence of local housing and Labour markets and the unintended adverse impact of more restrictive planning policies.