<b>Replication Package for "The Effect of Short-Term Rentals on House Prices and </b><b>Residential Mobility: Evidence from Madrid"</b>

This is the replication package for the accepted and forthcoming version of the paper in SERIEs — Journal of the Spanish Economic Association.This package has been updated relative to the working paper version. The replication package for the working paper version is archived separately at: https://doi.org/10.6084/m9.figshare.24246448<b>[Abstract:] </b>This paper studies the effects of Airbnb on residential mobility and housing prices in Madrid between 2010 and 2018. To identify causal effects, I exploit a neighborhood– year panel and a shift–share instrumental variable strategy based on spatial variation in tourist attractiveness and the rapid expansion of the platform. I find that an increase of 100 entire-home Airbnb listings in a neighborhood reduces annual residential inflows by approximately 50 individuals (2% of the mean), has no significant effect on outflows, and increases housing prices by 2%. A causal mediation analysis suggests that the effect of Airbnb on residential inflows operates primarily through its impact on housing prices. Consistent with this mechanism, the reduction in inflows is concentrated among individuals without a college degree. Overall, these findings imply that short-term rental platforms shape neighborhood dynamics not only through housing prices but also by affecting residential mobility patterns.本数据集为已被《SERIEs——西班牙经济学会期刊》接收并即将刊发的论文的复现包。相较工作论文版本，本复现包已完成更新。工作论文版本的复现包已单独存档于：https://doi.org/10.6084/m9.figshare.24246448 【摘要】本文研究了2010至2018年间，爱彼迎（Airbnb）对马德里市居民流动性与住房价格的影响。为识别因果效应，本文采用社区-年份面板数据，并基于旅游吸引力的空间差异与该平台的快速扩张，构建了转移-份额工具变量策略。研究发现：某社区内整租型爱彼迎房源每增加100套，该社区年度居民迁入量将减少约50人（约为均值的2%）；对居民迁出量无显著影响；同时推动住房价格上涨2%。因果中介效应分析表明，爱彼迎对居民迁入量的影响主要通过住房价格渠道实现。与此机制相符的是，迁入量的减少主要集中于未获得大学学历的群体。综上，本研究结果显示，短期租赁平台不仅通过住房价格，还通过改变居民流动性模式，对社区动态产生塑造作用。