RT info:eu-repo/semantics/conferenceObject
T1 The effect of peer-to-peer (P2P) accommodations on the local economy: evidence from Madrid
A1 Hidalgo, Alberto
A1 Riccaboni, Massimo
A1 Velázquez, Francisco J.
A2 Otros
K1 Economía
K1 Empresas
K1 Turismo
K1 Airbnb
K1 Peer-to-Peer (P2P)
K1 Local economy
K1 Madrid
AB This paper investigates the effect of P2P accommodations on the local economy of the city of Madrid. We find that the arrival of Airbnb has fostered food and beverage services. We exploit the exogenous variation created by the timing and the unequal distribution of Airbnb listings across the urban geography to identify its effects on the number and employment of food and beverage services. Using an instrumental variable strategy, we find positive effects on both the number of restaurants and their employees: an increase in ten Airbnb rooms in a given census tract translates to one more restaurant, and the same increase in a given neighbourhood generates nine new tourist-related employees. The results are robust to sample composition, spatial spillovers and alternative measures of tourist-related activities. This paper contributes to the literature on the economic impacts of the platform economy on urban areas by providing evidence of positive economic externalities from P2P accommodations.
LK http://hdl.handle.net/10612/13852
UL http://hdl.handle.net/10612/13852
NO Economía regional en tiempos de crisis / IX Jornadas Castellano-Leonesas de Ciencias Regional, 14-15 octubre de 2021 (online)
DS BULERIA. Repositorio Institucional de la Universidad de León
RD 03-jun-2024