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1、JournalofUrbanEconomics61(2007)345371www.elsevier.com/locate/jueImmigrationandhousingrentsinAmericancities✩AlbertSaizUniversityofPennsylvania,TheWhartonSchool,3620LocustWalk,Philadelphia,PA19104.6302,USAReceived24October2005;revised7July2006Availableonline14September2006AbstractIstherealocalec
2、onomicimpactofimmigration?ImmigrationpushesuprentsandhousingvaluesinUSdestinationcities.Thepositiveassociationofrentgrowthandimmigrantinflowsispervasiveintimeseriesforallmetropolitanareas.Iuseinstrumentalvariablesbasedonashift-shareofnationallevelsofimmigrationintometropolitanareas.Animmigratio
3、ninflowequalto1%ofacityspopulationisassociatedwithincreasesinaveragerentsandhousingvaluesofabout1%.Theresultssuggestaneconomicimpactthatisanorderofmagnitudebiggerthanthatfoundinlabormarkets.©2006ElsevierInc.Allrightsreserved.JELclassification:J61;R23;R31Keywords:Immigration;Housingprices1.Introd
4、uctionImmigrationcontinuestobeoneofthemostimportantfactorsinthedemographicevolutionoftheUnitedStates.Immigrantsandtheiroffspringwillaccountforasmuchastwothirdsofpopulationgrowthfrom1995to2050(NRC[29]).Theeffectsofimmigrationwillbeparticularlysalientintheareaswhereimmigrantscluster.In2000,68per
5、centofallforeign-bornpersons(asopposedto36percentofthenativepopulation)livedinonlysixstates:California,NewYork,Florida,Texas,NewJersey,orIllinois.1MajorAmericanmetropolitanareassuchasNewYork,LosAngeles,Miami,andSanFranciscohaveseenmajorlevelsofimmigration.✩Thepaperisarevisedversionofanolderwor
6、kingpaper[A.Saiz,ImmigrationandHousingRentsinAmericanCities,Workingpaper03-12,FederalReserveBankofPhiladelphia,2003].E-mailaddress:saiz@wharton.upenn.edu.1SeePasselandZimmerman[30].0094-1190/$seefrontmatter©2006ElsevierInc.Allrightsreserved.doi:10.1016/j.jue.2006.07.004346A.Saiz/JournalofUrban
7、Economics61(2007)345–371WhatisthelocalimpactofsuchimmigrationinflowsinAmericanimmigrantgatewaycities?Toanswerthisquestion,economistshavefocusedonwageimpactsandhavefoundonlysmalleffects.InthispaperIarguefortheimportanceofthehousingmarket.
