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Full-Text Articles in Social and Behavioral Sciences
Do Inclusionary Zoning Ordinances Restrict Housing Supply: An Instrumental Variable Approach Using Evidence From California, Liam James
CMC Senior Theses
Do inclusionary zoning (IZ) ordinances restrict the supply of housing, putting undue upward pressure on prices? Using an improved version of the California Coalition of Rural Housing database, we use OLS and 2SLS methods to estimate the effect of IZ policies on supply. In demonstrating the endogeneity of OLS, we address this concern through the use of differences in two-party voter registration as an instrument for the presence of an inclusionary zoning ordinance. We find no evidence consistent with a clear restrictive effect of these policies.