Table 15 Houseing prices and immigration—MS-regions from 1990-2016: LOO instrument.
From: How does immigration affect housing costs in Switzerland?
IV regressions | First-stage regressions | ||||||
|---|---|---|---|---|---|---|---|
Dep. var.: | \(\Delta \, \text {ln} \, HP_{it}\) | \(\Delta \, \text {ln} \, AP_{it}\) | \(\frac{\Delta I_{it}}{Pop_{it-1}}\) | \(\frac{\Delta I_{it}}{Pop_{it-1}} \times {\textbf {1}} (t \ge 2002)\) | |||
(1) | (2) | (3) | (4) | (5) | (6) | (7) | |
\(\frac{\Delta I_{it}}{Pop_{it-1}}\) | 2.498\(^{***}\) | -2.285 | 4.487\(^{***}\) | 0.846 | |||
[0.003] | [0.230] | [0.000] | [0.563] | ||||
\(\frac{\Delta I_{it}}{Pop_{it-1}} \times {\textbf {1}} (t \ge 2002)\) | 6.664\(^{**}\) | 5.074\(^{**}\) | |||||
[0.019] | [0.024] | ||||||
\(\Delta \, u_{it-1}\) | − 0.057 | − 0.283 | 0.106 | − 0.065 | − 0.031 | -0.035 | − 0.000 |
[0.714] | [0.107] | [0.571] | [0.705] | [0.402] | [0.334] | [0.997] | |
\(\frac{\Delta \hat{I}_{it}^{LOO}}{Pop_{it-1}}\) | 0.210\(^{***}\) | 0.158\(^{***}\) | − 0.000 | ||||
[0.003] | [0.002] | [0.997] | |||||
\(\frac{\Delta \hat{I}_{it}^{LOO}}{Pop_{it-1}} \times {\textbf {1}} (t \ge 2002)\) | 0.084 | 0.242\(^{**}\) | |||||
[0.322] | [0.011] | ||||||
Year FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
\(Obs\) | 2754 | 2754 | 2754 | 2754 | 2754 | 2754 | 2754 |
\(R^{2}\) | 0.449 | 0.371 | 0.537 | 0.531 | 0.411 | 0.412 | 0.536 |
K-P F-stat | 9.42 | 4.94 | 9.42 | 4.94 | |||
S-W F-stat, immigration | 9.91 | 9.91 | |||||
S-W F-stat, interaction | 11.69 | 11.69 | |||||