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Author: Richard K. Green Publisher: ISBN: Category : Languages : en Pages : 74
Book Description
In this article, we test whether tenure choice influences employment. This influence might arise through a number of channels, including transaction costs, lock-in effects, wealth effects, externalities and commuting times. These factors could collectively have either a positive or negative effect on employment outcomes. Using Current Population Survey panel data from 1988 to 2013, we conclude that tenure rates do not statistically influence employment growth rates. Using Panel Study of Income Dynamics data from 1994 to 2011 and Survey of Income and Program Participation data from 1995 to 2013, we conclude that home-owning does not increase peoples' unemployment probabilities or significantly increase people's unemployment spells or decrease people's wages. But home-owning does affect employment by lengthening employment durations and increasing the likelihood of interstate moves. By investigating some features of home-owing - presence of mortgages, negative equity, wealth accumulation and attachment to communities - we conclude that having mortgages, negative equity and wealth accumulation might affect job outcomes, largely in a positive direction.
Author: Richard K. Green Publisher: ISBN: Category : Languages : en Pages : 74
Book Description
In this article, we test whether tenure choice influences employment. This influence might arise through a number of channels, including transaction costs, lock-in effects, wealth effects, externalities and commuting times. These factors could collectively have either a positive or negative effect on employment outcomes. Using Current Population Survey panel data from 1988 to 2013, we conclude that tenure rates do not statistically influence employment growth rates. Using Panel Study of Income Dynamics data from 1994 to 2011 and Survey of Income and Program Participation data from 1995 to 2013, we conclude that home-owning does not increase peoples' unemployment probabilities or significantly increase people's unemployment spells or decrease people's wages. But home-owning does affect employment by lengthening employment durations and increasing the likelihood of interstate moves. By investigating some features of home-owing - presence of mortgages, negative equity, wealth accumulation and attachment to communities - we conclude that having mortgages, negative equity and wealth accumulation might affect job outcomes, largely in a positive direction.
Author: Gaetano Lisi Publisher: ISBN: Category : Languages : en Pages :
Book Description
Following the evidence that housing costs may impair the proper functioning of the labour market, this paper develops a search and matching model where trading frictions in the mortgage, housing and labour markets interact with each other. Precisely, the employment status affects the probability to get a mortgage. In turn, the granting or not of the mortgage affects the housing tenure choice (tenancy or owner occupancy). Finally, the housing tenure choice affects the unemployment rate. It will show that tenants generate a greater effort in searching for a job than homeowners, since employed workers have a greater chance of getting a mortgage to buy a home. As a result, the positive correlation between the homeownership and unemployment rates emerges as quite consistent with the evidence that homeowners tend to be unemployed less often than tenants.
Author: Casper van Ewijk Publisher: Oxford University Press ISBN: 0199543941 Category : Business & Economics Languages : en Pages : 266
Book Description
Increasing labour market flexibility is at the top of the European agenda. A new and challenging view is that lack of mobility in the labour market may arise from rigidities in the housing market. This book brings together top European economists to analyse the interaction between housing and labour markets and provides clear policy messages.
Author: Cristina Barceló Varona Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper studies housing tenure and labour mobility using individual data from the ECHP for five European countries. First, the effect of housing tenure on the unemployed workers' labour mobility is studied using a discrete unemployment duration model with two alternative exits to employment, depending on whether they are associated with a residential change or not. Ownership is found to affect geographical mobility negatively. Second, the results are robust to potential endogeneity of the ownership status and institutional differences across countries. Third, post-unemployment wages are studied. We do not find any effects of the unemployment spell duration and the geographical mobility on wages after controlling for the self-selection bias. [resumen de autor]
Author: Richard K. Green
Author: Richard K. Green
Author: Gaetano Lisi
Author: 
Author: Joseph Rowntree Foundation
Author: Casper van Ewijk
Author: Ricardo R. Pinto
Author: Cristina Barceló Varona
Author: Patrick Heady
Author: Thomas Dohmen
Author: Cristina Barceló