"NBER Working Paper No. 24181
Issued in January 2018
NBER Program(s):Labor Studies, Public Economics
Issued in January 2018
NBER Program(s):Labor Studies, Public Economics
We exploit quasi-experimental variation in assignment of rent control to
study its impacts on tenants, landlords, and the overall rental market.
Leveraging new data tracking individuals’ migration, we find rent
control increased renters’ probabilities of staying at their addresses
by nearly 20%. Landlords treated by rent control reduced rental housing
supply by 15%, causing a 5.1% city-wide rent increase. Using a dynamic,
neighborhood choice model, we find rent control offered large benefits
to covered tenants. Welfare losses from decreased housing supply could
be mitigated if insurance against rent increases were provided as
government social insurance, instead of a regulated landlord mandate."
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