Abstract
In various macro-studies, home-ownership is found to hamper job mobility and to increase unemployment. This paper addresses similar issues, but uses a micro-econometric framework where both individual job mobility, as well as the probability of being homeowner are modeled simultaneously. Using a panel of individual labor and housing market histories for the period 1989-1998, we estimate a nonparametric model of both job durations and home-ownership. We do not find homeowners to change less from jobs than tenants. Instead, our results suggest that the housing decision is driven by job commitment, and not the reverse. We do however find homeowners to be less vulnerable to unemployment.
| Original language | English |
|---|---|
| Pages (from-to) | 580-596 |
| Number of pages | 17 |
| Journal | Journal of Urban Economics |
| Volume | 55 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - May 2004 |
| Externally published | Yes |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 11 Sustainable Cities and Communities
Keywords
- Duration models
- Housing market analysis
- Labor mobility
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