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 microeconometric 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 for unemployment.
increase unemployment. This paper addresses similar issues, but uses a microeconometric 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 for unemployment.
| Original language | English |
|---|---|
| Place of Publication | Utrecht |
| Publisher | UU USE Tjalling C. Koopmans Research Institute |
| Number of pages | 41 |
| Publication status | Published - Jan 2004 |
Publication series
| Name | Discussion Paper Series / Tjalling C. Koopmans Research Institute |
|---|---|
| Publisher | UU USE Tjalling C. Koopmans Institute |
| No. | 01 |
| Volume | 04 |
| ISSN (Electronic) | 2666-8238 |
Keywords
- Duration Models
- Labor Mobility (J6)
- Housing Market Analysis (R2)
