Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/259784 
Year of Publication: 
2022
Citation: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 158 [Issue:] 1 [Article No.:] 9 [Publisher:] Springer [Place:] Heidelberg [Year:] 2022 [Pages:] 1-16
Publisher: 
Springer, Heidelberg
Abstract: 
This study evaluates the impact of the second home restriction (Lex Weber) on construction investments in Switzerland. Different specifications and variations are defined, and the changes in investment behaviour are analysed. A first basic model considers the variation in investments through a discrete event study analysis, while a second model includes a continuous treatment variable to account for the different strong impacts of the law in various municipalities. In the second step, these two basic models are developed in a way that allows to include controls for the different cantonal legislation. The results show that with a delay of three years (due to the expiration of permits), the law had the desired impact on new construction investments. Additionally, the importance of the changes on different outcomes in the local economy and tourism industry are discussed.
Subjects: 
Construction
Housing investments
Second homes
Switzerland
Tourism development
JEL: 
C23
D72
E22
L74
O18
Z38
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.