Effects of the second home restriction on | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) |
---|---|---|---|---|---|---|---|---|---|---|
New construction | Renovation | New construction | Renovation | Housing prices | Population | Inter-cantonal migration | Intra-cantonal migration | Available beds in hotels | Household income | |
Effect at reform | 0 | 0.000 | −0.002 | 0.001 | −0.008 | −3.726*** | −0.102*** | −0.284*** | −0.219 | −0.092 |
[0.001] | [0.001] | [0.001] | [0.001] | [0.015] | [1.300] | [0.035] | [0.086] | [0.189] | [0.237] | |
Effect after 1 year | −0.002* | −0.002 | −0.003*** | −0.000 | 0.019 | −5.054*** | −0.110** | −0.355*** | −0.324 | −0.091 |
[0.001] | [0.001] | [0.001] | [0.001] | [0.013] | [1.742] | [0.045] | [0.103] | [0.218] | [0.237] | |
Effect after 2 years | −0.003* | −0.001 | −0.004*** | 0.001 | −0.026* | −6.121*** | −0.103** | −0.437*** | −0.301 | −0.098 |
[0.002] | [0.001] | [0.002] | [0.001] | [0.013] | [2.108] | [0.052] | [0.128] | [0.223] | [0.237] | |
Effect after 3 years | −0.005*** | −0.004*** | −0.006*** | −0.003* | 0.003 | −6.835*** | −0.184*** | −0.446*** | −0.265 | 0.196 |
[0.002] | [0.001] | [0.002] | [0.002] | [0.006] | [2.302] | [0.057] | [0.126] | [0.242] | [0.436] | |
Effect after 4 years | −0.007*** | −0.001 | −0.007*** | −0.000 | −0.002 | −7.809*** | −0.170*** | −0.621*** | −0.349 | 0.197 |
[0.002] | [0.001] | [0.002] | [0.002] | [0.011] | [2.602] | [0.063] | [0.192] | [0.255] | [0.435] | |
Effect after 5 years | −−0.008*** | −0.004** | −0.009*** | −0.003 | −0.014 | −8.384*** | −0.173*** | −0.443*** | −0.236 | 0.164 |
[0.001] | [0.002] | [0.002] | [0.002] | [0.010] | [2.683] | [0.061] | [0.150] | [0.207] | [0.443] | |
Constant | 10.510*** | 8.064*** | 10.197*** | 7.936*** | 100.407*** | 8,978.364*** | 163.928*** | 424.274*** | 13.293 | 187.196*** |
[0.018] | [0.009] | [0.408] | [0.171] | [0.194] | [1,849.699] | [57.073] | [63.700] | [114.730] | [5.683] | |
Observations | 10,353 | 10,378 | 10,353 | 10,378 | 10,800 | 10,800 | 10,800 | 10,800 | 10,800 | 9768 |
Number of years | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
R-squared | 0.785 | 0.760 | 0.793 | 0.773 | 0.362 | 0.998 | 0.986 | 0.973 | 0.994 | 0.550 |
Number of municipalities | 921 | 921 | 921 | 921 | 921 | 921 | 921 | 921 | 921 | 897 |
Municipality fixed effects | YES | YES | YES | YES | YES | YES | YES | YES | YES | YES |
Canton by year effects | NO | NO | YES | YES | NO | NO | NO | NO | NO | NO |