Compensation of regional unemployment in housing markets

W. Vermeulen; J.N. van Ommeren

doi:10.1111/j.1468-0335.2007.00664.x

Compensation of regional unemployment in housing markets

W. Vermeulen, J.N. van Ommeren

Spatial Economics

Research output: Contribution to Journal › Article › Academic › peer-review

Abstract

Why are regional unemployment differentials in Europe so persistent if, as the wage curve literature demonstrates, there is no compensation through wages? Using Urban Audit data for 142 cities over 12 EU countries, as well as a Dutch household survey, we estimate relationships between local labour market indicators and the average house price level. The evidence suggests that workers are compensated in housing markets to a significant extent, so that regional differences in unemployment may reflect an equilibrium outcome. © 2009 The London School of Economics and Political Science.

Original language	English
Pages (from-to)	71-88
Number of pages	17
Journal	Economica
Volume	76
Issue number	301
DOIs	https://doi.org/10.1111/j.1468-0335.2007.00664.x
Publication status	Published - 2008

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title = "Compensation of regional unemployment in housing markets",

abstract = "Why are regional unemployment differentials in Europe so persistent if, as the wage curve literature demonstrates, there is no compensation through wages? Using Urban Audit data for 142 cities over 12 EU countries, as well as a Dutch household survey, we estimate relationships between local labour market indicators and the average house price level. The evidence suggests that workers are compensated in housing markets to a significant extent, so that regional differences in unemployment may reflect an equilibrium outcome. {\textcopyright} 2009 The London School of Economics and Political Science.",

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AB - Why are regional unemployment differentials in Europe so persistent if, as the wage curve literature demonstrates, there is no compensation through wages? Using Urban Audit data for 142 cities over 12 EU countries, as well as a Dutch household survey, we estimate relationships between local labour market indicators and the average house price level. The evidence suggests that workers are compensated in housing markets to a significant extent, so that regional differences in unemployment may reflect an equilibrium outcome. © 2009 The London School of Economics and Political Science.

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DO - 10.1111/j.1468-0335.2007.00664.x

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JO - Economica

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Compensation of regional unemployment in housing markets

Abstract

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