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Author: Jos van Ommeren Publisher: CEPS ISBN: 9290796340 Category : Housing Languages : en Pages : 26
Book Description
Why are regional unemployment differentials in Europe so persistent if, as the wage curve literature demonstrates, there is no compensation in labour markets? We hypothesize that workers in high-unemployment regions are compensated in housing markets. Modelling regional unemployment differentials as a consequence of centralized wage bargaining, we show that clearing of land markets may undo the incentive for workers to migrate to low-unemployment regions in general equilibrium. The compensating differentials hypothesis is tested on city-level data for several countries. Controlling for variation in income and amenities, housing is found to be about 3 percent less expensive on average in cities where unemployment is 10 percent up. An analysis of housing demand survey data, which takes account of housing heterogeneity, yields a similar negative relationship. The magnitude of the income effect generated by this compensating differential is consistent with a -0.10 wage curve elasticity. These findings weaken the case for regional support programs.
Author: Jos van Ommeren Publisher: CEPS ISBN: 9290796340 Category : Housing Languages : en Pages : 26
Book Description
Why are regional unemployment differentials in Europe so persistent if, as the wage curve literature demonstrates, there is no compensation in labour markets? We hypothesize that workers in high-unemployment regions are compensated in housing markets. Modelling regional unemployment differentials as a consequence of centralized wage bargaining, we show that clearing of land markets may undo the incentive for workers to migrate to low-unemployment regions in general equilibrium. The compensating differentials hypothesis is tested on city-level data for several countries. Controlling for variation in income and amenities, housing is found to be about 3 percent less expensive on average in cities where unemployment is 10 percent up. An analysis of housing demand survey data, which takes account of housing heterogeneity, yields a similar negative relationship. The magnitude of the income effect generated by this compensating differential is consistent with a -0.10 wage curve elasticity. These findings weaken the case for regional support programs.
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Unemployment Compensation Publisher: ISBN: Category : Insurance, Unemployment Languages : en Pages : 650
Author: Ron Martin Publisher: Routledge ISBN: 1134421575 Category : Architecture Languages : en Pages : 281
Book Description
In recent years, the local dimensions of the labour market have attracted increasing attention from academic analysts and public policy-makers alike. There is growing realization that there is no such thing as the national labour market, instead a mosaic of local and regional markets that differ in nature, performance and regulation. Geographies of Labour Market Inequality is concerned with these multiple geographies of employment, unemployment, work and incomes, and their implications for public policy.
Author: Jos van Ommeren
Author: Jos van Ommeren
Author: Wouter Vermeulen
Author: Wouter Vermeulen
Author: Wouter Vermeulen
Author: Gavin Cameron
Author: Sara Davies
Author: Peter J. Brady
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Unemployment Compensation
Author: 
Author: Ron Martin