From turbulence to housing market
摘要
This paper examines housing market spillovers from airline bankruptcies by linking nationwide property-level transaction data to US airline bankruptcy episodes between 2002 and 2013. Our staggered difference-in-differences analysis suggests that the adverse impact of an airline’s bankruptcy filing on the local housing market is likely temporary, and the subsequent rebound can extend beyond the carrier’s emergence from bankruptcy. There is also evidence that the housing market response tends to vary by the ownership structure of the involved carrier.