Skip to main content

Table 14 Housing supply and immigration—MS-regions from 2009–2016.

From: How does immigration affect housing costs in Switzerland?

 

Baseline

Major region FE

Municipal level

Net migration

 

(1)

\((2)^{1}\)

(3)

\((4)^{2}\)

OLS regressions

Dep. var.: \(\Delta \, \text {ln} \, Q^T_{it}\)

\(\eta _1\)

0.440***

0.405***

0.457***

− 0.091

 

[0.000]

[0.001]

[0.000]

[0.400]

Dep. var.: \(\Delta \, \text {ln} \, Q^H_{it}\)

\(\eta _1\)

− 0.108

− 0.144

0.115***

− 0.176

 

[0.525]

[0.386]

[0.004]

[0.219]

Dep. var.: \(\Delta \, \text {ln} \, Q^A_{it}\)

\(\eta _1\)

0.785***

0.720***

0.744***

− 0.502**

 

[0.001]

[0.001]

[0.000]

[0.025]

IV regressions

Dep. var.: \(\Delta \, \text {ln} \, Q^T_{it}\)

\(\eta _1\)

− 2.068*

− 4.604

0.062

− 0.628***

 

[0.064]

[0.227]

[0.917]

[0.000]

Dep. var.: \(\Delta \, \text {ln} \, Q^H_{it}\)

\(\eta _1\)

− 1.468

− 4.145

− 1.672***

− 0.446*

 

[0.144]

[0.194]

[0.000]

[0.062]

Dep. var.: \(\Delta \, \text {ln} \, Q^A_{it}\)

\(\eta _1\)

− 4.332**

− 9.311

− 0.715

− 1.315***

 

[0.044]

[0.219]

[0.411]

[0.000]

\(Obs\)

742

742

15526

742

K-P F-stat

4.48

1.57

16.49

35.95

  1. p-values in brackets. Standard errors are clustered by MS-regions, resp. municipalities in column 3. The regressions are run at the MS-regional level (in column 3 at the municipal level) for the period from 2009-2016. \(\Delta\) indicates first differences. \(\eta _1\) is the estimated coefficient on the annual immigration (\(\Delta I_{it}\)) relative to the initial population size (\(Pop_{it-1}\)). All regressions include year fixed effects and the annual change in the log of the monthly gross wage lagged by one year as a control variable. The instrument is the change in the predicted stock of foreigners divided by initial population. The stock of foreigners is predicted by the settlement pattern of immigrants in 1980. The K-P F-stat is the Kleibergen-Paap rk Wald F-statistic
  2. \(^{1}\) Column 2 additionally includes fixed effects for major regions
  3. \(^{2}\) In column 4, international net migration of foreigners is used instead of the annual change in the stock of foreigners to measure \(\Delta I_{it}\)
  4. Significance levels: \(^{*}\) \(p<0.10\), \(^{**}\) \(p<0.05\), \(^{***}\) \(p<0.01\)