Panel Paper:
Voting Responses to Localized Economic Shocks: The Case of Housing Prices and the Great Recession
*Names in bold indicate Presenter
We use a novel dataset on registrants and voters in local, state and national elections for the Tampa, FL, metro area, over the course of two decades. These data were obtained from the state and county boards of elections, and also contain a range of registrant-level characteristics like age, race, gender and party affiliation. We augment these data with information on demographics and housing markets from the U.S. Census and FL Department of Revenue to capture differences in localized socioeconomic conditions and housing-related shocks.
Our data possess four key features. First, we can follow registrants over time and observe whether or not they vote in local, state and national (primary and general) elections. Second, we can identify and differentiate among local offices and measures on the ballot. Third, we can construct very fine-grained geographies to capture localized economic circumstances. Finally, the sample is quite large (over 780,000 unique registrants in total), allowing for enough power in fine-grained analyses to test for heterogeneity. There is meaningful variation across Florida, both geographically and temporally, with respect to baseline economic conditions and to how places weathered the recession.
Using these data we can exploit the geographic variation in (i) how economically vulnerable people and places were leading up to the Great Recession, (ii) how the housing price shock of the Great Recession impacted local communities, and (iii) how individuals responded with respect to voting participation. We estimate a model to determine how the magnitude of a localized housing price shock affects the probability of voting (across various election types and controlling for the composition of the election ballots). The crux of our analytical strategy is individual-level fixed effects, so that we are identifying off of changes in individual voting behavior, controlling for changes in micro-geography conditions.