Homeownership, Labour Market Transitions and Earnings PDF Download

Author: Thierry Kamionka
Publisher:
ISBN:
Category :
Languages : en
Pages :

View

Book Description

Author: Carole Brunet
Publisher:
ISBN:
Category :
Languages : en
Pages :

View

Book Description

Author: Casper van Ewijk
Publisher: Oxford University Press
ISBN: 0199543941
Category : Business & Economics
Languages : en
Pages : 266

View

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: Andrew Beer
Publisher: Policy Press
ISBN: 1847424287
Category : Political Science
Languages : en
Pages : 210

View

Book Description
Lifetime attitudes to housing have changed, with new population dynamics driving the market and a greater emphasis on consumption. This important contribution to the literature argues that how we think about households and their housing needs to be recast to acknowledge this changed environment and provide a more powerful conceptual framework.

Author: Ray Forrest
Publisher: Routledge
ISBN: 1136211330
Category : Architecture
Languages : en
Pages : 266

View

Book Description
Young People and Housing brings together new research exploring the economic, social, and cultural challenges that face young people in search of permanent housing. Featuring international case studies from Asia, Europe, and Australia, Young People and Housing is a collection of groundbreaking work from leading scholars in housing policy. Younger generations across a wide range of societies face increasing difficulties in gaining access to housing. Housing occupies a pivotal position in the transition from parental dependence to adult independence. Delayed independence has significant implications for marriage and family formation, fertility, inter and intra generational tensions, social mobility and social inequalities. The social and cultural dimensions are, of course, enormously varied with strong contrasts between Asian and Western societies in terms of intergenerational norms and practices in relation to housing. Nevertheless, younger households in China (including Hong Kong), Japan, the USA, Australasia and Europe face very similar challenges in the housing sphere. Moreover, concerns about the housing future for younger generations are gaining greater policy and popular prominence in many countries.

Author: Xiao Di Zhu
Publisher:
ISBN:
Category : Home ownership
Languages : en
Pages : 32

View

Book Description

Author: Teresa Jurado Guerrero
Publisher: Ashgate Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 392

View

Book Description
Patterns of leaving the parental home have important implications for family formation, fertility and consumption patterns. This book presents the first in-depth cross-national study of young people's living arrangements in Europe, and also explores the factors that influence their housing choices.

Author: Jakob Roland Munch
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

View

Book Description
We investigate the impact of home ownership on individual job mobility and wages in Denmark. We find that home ownership has a negative impact on job-to-job mobility both in terms of transition into new local jobs and new jobs outside the local labour market. In addition, there is a clear negative effect of home ownership on the unemployment risk and a positive impact on wages. These results are robust to different strategies for correcting for the possible endogeneity of the home owner variable.

Author: XUE HU
Publisher:
ISBN:
Category :
Languages : en
Pages : 178

View

Book Description
These essays contribute towards our understanding of housing and labor economics. This dissertation is composed of three chapters. In the first chapter, I explore the impact of negative housing equity on households' geo- graphical mobility using data from Panel Study of Income Dynamics. The empirical analysis implies that addressing the endogeneity nature of homeowners' underwater mortgage status is crucial. Even with comprehensive controls for households' demographic characteristics and macro-level factors, omitted variable bias such as homeowners' attitudes towards their financial responsibility may still generate estimation bias that is quite large. After proper instrumenting for homeowners' underwater mortgage status using local shocks from housing and labor markets, the estimation results show that having underwater mortgages is associated with an average decline in mobility rate of about 17 percentage points. The second chapter investigates the role of housing choice and mortgage on employment transitions when there are uncertainties regarding income and house prices. Motivated by the empirical evidence on large employment-transition disparities between homeowners and renters, I develop and estimate a structural model in which mortgage obligations motivate homeowners to exert greater job-search efforts during unemployment spells. The model is used to understand individuals' response to housing and labor market shocks. I find that while the decline in house prices creates negative labor market externalities for renters, tightening mortgage constraints result in greater job search incentives for homeowners. With concurrent negative labor market shocks, the probability of transitioning out of unemployment for both renters and homeowners declines. Two policy experiments are conducted. The first shows that lower refinance cost discourages housing equity accumulation and is associated with a decline in the average employment rate. The second demonstrates that a lower down payment requirement encourages the transition into home ownership, which has positive labor market implications, especially for younger individuals. The first two chapters explore the relation between underwater mortgage and geographical mobility and impacts of mortgage debt obligation on employment incentives. Both analyses are based on individual-level data. The last chapter investigates the mysteries of regional housing market disparities from a macro perspective. This chapter shows that local economic conditions are correlated with deviations between house prices and rents in a price-rent model framework, suggesting that the demand for credit and housing is greater when a variety of local economic conditions are more supportive. Several different measures of local economic conditions are considered in this chapter: local unemployment rates, local unemployment rates relative to the natural rate of unemployment, local inflation rates, and measures of local perceptions of the cost of credit. This chapter attempts to offer explanations not as how or why house prices increased, but rather, given the myriad of national factors making home purchase easier and cheaper, where house prices increased. This approach also resolves a bit of a puzzle as to why the housing bubble was so pronounced in some areas and not others.

Author: Orley Ashenfelter
Publisher: Elsevier
ISBN: 0444534504
Category : Business & Economics
Languages : en
Pages : 863

View

Book Description
A guide to the continually evolving field of labour economics.