Download or read book Homeownership Mobility and Unemployment written by Hana M. Broulikova and published by . This book was released on 2017 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Homeownership is believed to cause higher unemployment. This is because homeowners face higher mobility costs that limit their job search to local labor markets. Empirical tests of this prediction have yielded mixed results so far, possibly due to the endogeneity of homeownership. This paper documents that the privatization of public housing in Central and Eastern Europe after the fall of the Iron Curtain resulted in a quasi-experimental assignment of homeownership to individual households. This facilitates a new test of the effects of homeownership on mobility and unemployment. We find only weak evidence that homeowners are less willing to move and no evidence of higher unemployment risks relative to renters.

Download or read book Homeownership and the Labour Market in Europe written by Casper van Ewijk and published by OUP Oxford. This book was released on 2009-03-12 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing labour market flexibility is at the top of the European agenda. A new and challenging view is a lack of mobility in the labour market may arise from rigidities in the housing market. The research in this book has been inspired by the intriguing hypothesis put forward by Andrew Oswald that homeownership may be a hindrance to the smooth working of the labour markets, as homeowners tend to be less willing to accept jobs outside their own region. This book brings together leading economists from across Europe to analyse the interaction between housing markets and labour markets. In the EU homeownership rates have been on the increase, often as a result of government policies, making the barriers that homeownership creates in terms of labour mobility increasingly important. This book shows on the one hand, at the individual level, that homeownership limits the likelihood of becoming unemployed and increases the probability of finding a job once unemployed. On the other hand, the transaction costs inherent in the housing market and homeownership hamper job-to-job changes and increase unemployment at the country level. This insight provides a clear policy message to European policymakers: reform in the housing market, aimed at lowering transaction costs and providing less generous subsidies for homeowners could be an effective instrument for reducing unemployment and improving labour market flexibility.

Download or read book Housing Mobility and Unemployment written by Thomas Dohmen and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rural Homeownership and Labour Mobility in the United States written by Daniel C. Monchuk and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Worker Mobility in the U S Economy written by Jeffrey Zornitsky and published by . This book was released on 1986 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Homeownership Unemployment and Commuting Distances written by Yuval Kantor and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than a decade ago Oswald has formulated the thesis that homeownership increases unemployment. Empirical research on micro data has confirmed that unemployed homeowners are less inclined to move house in combination with accepting a new job elsewhere. However, in general for European countries, residential mobility associated with unemployment spells appears to be too small to be able to have a substantial impact on labour market outcomes. The present paper aims to make a new contribution to the scientific debate on Oswald's thesis by addressing two complementary issues: risk attitudes of job seekers and commuting costs. We show that decreasing absolute risk aversion implies that the exit rate from unemployment is increasing in housing cost in the context of a standard job search model. In a spatial setting this is shown to imply that higher housing costs increase average commuting distances as well. We test these predictions on Dutch register data. Our empirical results show that outright homeowners have lower exit rates from unemployment than renters and are more reluctant to accept long commutes, which confirms Oswald's thesis. However, highly leveraged homeowners have higher exit rates than renters and are more inclined to accept longer commutes, which confirms earlier findings in the literature.

Download or read book Understanding the Effects of Homeownership and Regional Unemployment Levels on Migration During the Economic Crisis in Spain written by Isabel Palomares-Linares and published by . This book was released on 2016 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Spanish labour market is characterised by high levels of unemployment, which have increased during the global economic crisis. Spain is also a country which is characterised by a very high percentage of homeownership, with more than 83% of households being owner-occupiers. Both regional levels of unemployment and homeownership are known to be important factors influencing the spatial mobility decisions of households, but little is known about how these factors influenced mobility during the recent economic crisis.This paper uses rich individual level microdata from the last two Spanish censuses (2001 and 2011) to study the effect of homeownership and regional unemployment levels on both short and long distance mobility. Our finding suggest that the role, influence and interconnection of unemployment and homeownership in mobility decision have changed in the last decade.

Download or read book Interactions Between Housing and Labor Markets Through Population Mobility written by Raymond Scott Hacker and published by . This book was released on 1996 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Efforts of Home ownership on Labour Mobility in The Netherlands written by Michiel van Leuvensteijn and published by . This book was released on 2000 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Impact of Housing Market Institutions on Labour Mobility written by Thomas de Graaff and published by . This book was released on 2007 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Completion Report on Construction Work at Camp Grant Illinois March 1 1919 written by and published by . This book was released on 1919* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Housing and the Labor Market written by Peter Rupert and published by . This book was released on 2015 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Mortensen-Pissarides model with unemployment benefits and taxes has been able to account for the variation in unemployment rates across countries but does not explain why geographical mobility is very low in some countries (on average, three times lower in Europe than in the U.S.). We build a model in which both unemployment and mobility rates are endogenous. Our findings indicate that an increase in unemployment benefits and in taxes does not generate a strong decline in mobility and accounts for only half to two-thirds of the difference in unemployment from the US to Europe. We find that with higher commuting costs the effect of housing frictions plays a large role and can generate a substantial decline in mobility. We show that such frictions can account for the differences in unemployment and mobility between the US and Europe.

Download or read book Home Ownership As a Labor Market Friction written by Daniel Ringo and published by . This book was released on 2018 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates the effect of home ownership on individuals' unemployment. Because of higher moving costs, home owners will be less willing than renters to re- locate for work and could therefore face longer unemployment spells. Estimation is complicated by the endogeneity of ownership, as owners will have different abilities, preferences and job prospects than renters. I instrument for home ownership using a preference shifter from the worker's childhood environment. The results indicate that home ownership is a significant hindrance to mobility, and homeowners suffer longer unemployment spells and more frequent job loss because of it.

Download or read book Are American Homeowners Locked Into Their Houses The Impact of Housing Market Conditions on State to State Migration written by Alicia Modestino and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. policymakers are concerned that negative home equity arising from the housing market crash may be constraining geographic mobility and consequently serving as a factor in the persistently high national unemployment rate. Indeed, the widespread drop in house prices since 2007 has increased the share of homeowners who are underwater on their mortgages. At the same time, migration across states and among homeowners has fallen sharply. Using a logistic regression framework to analyze data from the Internal Revenue Service on state-to-state migration between 2006 and 2009, we discover evidence that “house lock” decreases mobility but find that it has a negligible impact on the national unemployment rate. A one-standard deviation increase in the share of underwater nonprime households in the origin state reduces the outflow of migrants from the origin to the destination state by 2.7%. When aggregated across the United States, this decrease in mobility reduces the national state-to-state migration rate by 0.05 percentage points, resulting in roughly 103,000 to 140,000 fewer individuals migrating across state lines in any given year. A back-of-the-envelope calculation shows that the impact of reduced mobility due to negative housing equity on the national unemployment rate is likely to be small -- on the order of less than one-tenth of a percentage point each year.

Download or read book Housing Tenure and Labour Mobility written by Cristina Barceló Varona and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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]

Download or read book The Effects of Housing Distortions on Unemployment written by Patrick Minford and published by . This book was released on 1987 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Home Ownership and Labour Markets in the Context of the Economic Crisis written by Sylvain Bouyon and published by . This book was released on 2015 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, a growing body of academic literature has focused on the possible negative effects of high levels of home ownership, especially on labour markets. More-than-optimal levels of home ownership may impede the mobility of workers, resulting in higher unemployment rates in some European regions. Against that backdrop, a simple model was devised to test the relationship between home ownership, mobility and unemployment. Recent macroeconomic data published by Eurostat suggest that both the variables of mobility and home ownership have had a significant impact on the dynamics of unemployment rates across the EU28.