?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=http%3A%2F%2Feprints.imtlucca.it%2F4083%2F&rft.title=The+Effect+of+Short-Term+Rentals+on+Local+Consumption+Amenities%3A+Evidence+from+Madrid&rft.creator=Hidalgo%2C+Alberto&rft.creator=Riccaboni%2C+Massimo&rft.creator=Vel%C3%A1zquez%2C+Francisco+J.&rft.subject=HB+Economic+Theory&rft.subject=HE+Transportation+and+Communications&rft.description=This+paper+investigates+the+impact+of+the+arrival+of+Airbnb+on+the+local+consumption+amenities+in+Madrid.+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+food+and+beverage+establishments.+Using+an+instrumental+variable+strategy%2C+we+find+positive+local+effects+on+both+the+number+of+restaurants+and+their+employees%3A+an+increase+in+ten+Airbnb+rooms+in+a+given+census+tract+translates+into+one+more+restaurant%2C+and+the+same+increase+in+a+given+neighborhood+generates+nine+new+tourist-related+employees.+The+results+are+robust+to+sample+composition%2C+spatial+spillovers+and+alternative+measures+of+local+consumption+amenities.+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+short-term+rentals.&rft.date=2022-01&rft.type=Working+Paper&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.rights=cc_by_nc&rft.identifier=http%3A%2F%2Feprints.imtlucca.it%2F4083%2F1%2FEIC%2520WP_1_2022.pdf&rft.identifier=++Hidalgo%2C+Alberto+and+Riccaboni%2C+Massimo+and+Vel%C3%A1zquez%2C+Francisco+J.++The+Effect+of+Short-Term+Rentals+on+Local+Consumption+Amenities%3A+Evidence+from+Madrid.++EIC+working+paper+series++%231%2F2022++++++++++