Rapid population expansions in urban areas significantly impact housing costs, posing affordability challenges. Estimating the causal effect is difficult due to confounding factors. This city-level analysis uses a novel instrumental variable (IV) and fixed effects IV estimation. Findings show housing costs increase faster than population growth, potentially exacerbating income inequality after housing expenses.
Publisher
npj Urban Sustainability
Published On
Dec 20, 2023
Authors
Chris Leishman, Weidong Liang, Nicholas Sim
Tags
urban population
housing costs
affordability
income inequality
instrumental variable
economic analysis
fixed effects
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