How much has house lock affected labor mobility and the unemployment rate?
AbstractThis article explores new evidence from the U.S. Census Bureau’s Survey of Income and Program Participation (SIPP) on the extent to which “house lock”--the reluctance of households to sell their homes in a declining house price environment--has contributed to the elevated unemployment rate since 2008.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Chicago in its journal Chicago Fed Letter.
Volume (Year): (2011)
Issue (Month): Sep ()
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- Fernando Ferreira & Joseph Gyourko & Joseph Tracy, 2011.
"Housing busts and household mobility: an update,"
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- Alicia Sasser Modestino & Julia Dennett, 2012. "Are American homeowners locked into their houses?: the impact of housing market conditions on state-to-state migration," Working Papers 12-1, Federal Reserve Bank of Boston.
- Jun Nie & Ethan Struby, 2011. "Would active labor market policies help combat high U.S. unemployment?," Economic Review, Federal Reserve Bank of Kansas City, issue Q III, pages 35-69.
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