Research

Working Papers

Short-Term Rental Regulations, Enforcement, and Host Behavior: Evidence from Denver (JMP)

Abstract In 2017, the City of Denver implemented short-term rental regulations to protect affordable housing and preserve neighborhoods. Along with standard registration requirements, the ordinance imposed a primary residence condition intended to reduce the number of properties removed from the long-term rental market. I use two-way fixed effects and synthetic difference-in-differences to estimate the effect of short-term rental regulations on Airbnb supply. In the year following regulations, total active supply falls by 24.8%. Commercial hosts are most likely to respond, and results show that regulations increase the probability a commercial listing permanently exits the market by 10.5 percentage points. I observe no evidence that hosts with a lower number of properties are significantly more likely to exit the market following regulations. Surprisingly, active enforcement of the policy through citations does not have an additional effect on supply.

The image above shows the effect of regulations on the probability a listing hosted commercially exits the market over time. The grey shaded rectangle represents the period between the regulations being announced and the date they became effective (January 2017). The solid, vertical line represent January 2017, and the dashed, vertical line represents the first date a noncompliant property had been issued a citation.

Exploring the Impacts of Covid-19 on Airbnb Market Equilibrium Across Location Type

Abstract In the past decade, Airbnb has grown in popularity as a home-sharing platform, where homeowners supply overnight accommodations to travelers. Like many other industries, tourism and hospitality was temporarily interrupted by the Covid-19 pandemic. In addition to travel-related safety concerns, state governments implemented travel restrictions aimed at reducing virus transmission. Restrictions varied widely in stringency and longevity. I utilize a comprehensive, property-level data set from AirDNA to explore the evolution of local Airbnb markets following March 2020. Using an interrupted time series approach, I estimate the effect of state-imposed Covid restrictions on local Airbnb supply and equilibrium outcomes and analyze heterogenous effects across location type. I find that urban locations experience the largest reduction in Airbnb activity, and the decline is persistent over time.

To observe the evolution of Airbnb in a particular market, choose a city from the drop-down menu or directly type a city of interest into the menu. The images are generated using data from AirDNA. To predict market outcomes in the absence of Covid-19, I use auto-ARIMA forecasting in R.

Works in Progress

Judicial Exposure to Wildfire Smoke and Criminal Sentencing Outcomes

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