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Are Homeowners Really More Unemployed?

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Author Info
Jakob Roland Munch
Michael Rosholm
Michael Svarer

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Abstract

This article investigates the effects of homeownership on labour mobility and unemployment duration. We distinguish between finding employment locally or being geographically mobile. We find that homeownership hampers the propensity to move for job reasons, but improves the chances of finding local jobs, which is in accordance with the predictions from our theoretical model. The overall hazard rate into employment is higher for homeowners, such that there is a negative correlation between homeownership and unemployment duration. Our empirical findings thus contradict the so-called Oswald hypothesis, even if support is found for the main mechanism behind the hypothesis, namely that homeownership hampers mobility. Copyright 2006 The Author(s). Journal compilation Royal Economic Society 2006.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0297.2006.01120.x
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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 116 (2006)
Issue (Month): 514 (October)
Pages: 991-1013
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Handle: RePEc:ecj:econjl:v:116:y:2006:i:514:p:991-1013

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Munch, Jakob Roland & Svarer, Michael, 2002. "Rent control and tenancy duration," Journal of Urban Economics, Elsevier, vol. 52(3), pages 542-560, November. [Downloadable!] (restricted)
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  2. Michael Svarer & Michael Rosholm & Jacob Roland Munch, 2003. "Rent Control and Unemployment Duration," CAM Working Papers 2003-07, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics. [Downloadable!]
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  3. Holm, Anders, 2002. "The effect of training on search durations: a random effects approach," Labour Economics, Elsevier, vol. 9(3), pages 433-450, July. [Downloadable!] (restricted)
  4. Oswald Andrew J., 1996. "A Conjecture on the Explanation for High Unemployment in the Industrialized Nations : Part I," The Warwick Economics Research Paper Series (TWERPS) 475, University of Warwick, Department of Economics. [Downloadable!]
  5. Decressin, Jorg & Fatas, Antonio, 1995. "Regional labor market dynamics in Europe," European Economic Review, Elsevier, vol. 39(9), pages 1627-1655, December. [Downloadable!] (restricted)
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  6. Richard K. Green & Patric H. Hendershott, 1999. "Home Ownership and Unemployment in the U.S," Wisconsin-Madison CULER working papers 99-15, University of Wisconsin Center for Urban Land Economic Research. [Downloadable!]
  7. Jochen Kluve & Christoph M. Schmidt, 2002. "Can training and employment subsidies combat European unemployment?," Economic Policy, CEPR, CES, MSH, vol. 17(35), pages 409-448, October. [Downloadable!] (restricted)
  8. van Leuvensteijn, Michiel & Koning, Pierre, 2004. "The effect of home-ownership on labor mobility in the Netherlands," Journal of Urban Economics, Elsevier, vol. 55(3), pages 580-596, May. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Pablo Casas-Arce & Albert Saiz, 2006. "Owning versus leasing: do courts matter?," Working Papers 06-21, Federal Reserve Bank of Philadelphia. [Downloadable!]
  2. Aico van Vuuren & Michiel van Leuvensteijn, 2007. "The impact of homeownership on unemployment in the Netherlands," CPB Discussion Papers 86, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
  3. repec:ese:iserwp: is not listed on IDEAS
  4. Namkee Ahn & Maite Blázquez, 2007. "Residential Mobility and Labor Market Transitions: Relative Effects of Housing Tenure, Satisfaction and Other Variables," Working Papers 2007-05, FEDEA. [Downloadable!]
  5. Damm, Anna Piil & Rosholm, Michael, 2003. "Employment Effects of Dispersal Policies on Refugee Immigrants, Part I: Theory," IZA Discussion Papers 924, Institute for the Study of Labor (IZA). [Downloadable!]
  6. Christian Dustmann & Teresa casey, 2005. "Intergenerational transmission of language capital and economic outcomes," CReAM Discussion Paper Series 0506, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London. [Downloadable!]
    Other versions:
  7. Jakob Roland Munch & Michael Rosholm & Michael Svarer, 2006. "Home Ownership, Job Duration, and Wages," Economics Working Papers 2006-06, School of Economics and Management, University of Aarhus. [Downloadable!]
    Other versions:
  8. Piil Damm, Anna & Rosholm, Michael, 2005. "Employment Effects of Dispersal Policies on Refugee Immigrants: Theory," Working Papers 05-1, University of Aarhus, Aarhus School of Business, Department of Economics. [Downloadable!]
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