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Residential Mobility of the European Elderly

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  • Viola Angelini
  • Anne Laferrère

Abstract

With the ageing of the European population, the housing choices of the large elderly cohorts will have consequences on the whole housing market. This article combines micro data from two waves of the Survey of Health, Ageing and Retirement in Europe (SHARE) with macro data on housing policy to analyse the residential mobility decisions of the elderly in 11 European countries. Residential mobility is low, but we find some evidence that those who move in old age tend to reduce housing consumption and investment by going from owning to renting. This 'downsizing' is positively linked to housing capital gains, while the existence of reverse mortgages in a country reduces it. We also find that mobility to nursing homes and mobility between private homes respond to different incentives and motivations. (JEL codes: D10, R21, R28). Copyright The Author 2011. Published by Oxford University Press on behalf of Ifo Institute for Economic Research, Munich. All rights reserved. For permissions, please email: journals.permissions@oup.com, Oxford University Press.

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Bibliographic Info

Article provided by CESifo in its journal CESifo Economic Studies.

Volume (Year): 58 (2012)
Issue (Month): 3 (September)
Pages: 544-569

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Handle: RePEc:oup:cesifo:v:58:y:2012:i:3:p:544-569

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  1. James Banks & Richard Blundell & Zoë Oldfield & James P. Smith, 2007. "Housing Price Volatility and Downsizing in Later Life," NBER Working Papers 13496, National Bureau of Economic Research, Inc.
  2. Axel Borsch-Supan & Vassilis Hajivassiliou & Laurence J. Kotlikoff, 1992. "Health, Children, and Elderly Living Arrangements: A Multiperiod-Multinomial Probit Model with Unobserved Heterogeneity and Autocorrelated Errors," NBER Chapters, in: Topics in the Economics of Aging, pages 79-108 National Bureau of Economic Research, Inc.
  3. Carole Bonnet & Laurent Gobillon & Anne Laferrère, 2008. "The effect of widowhood on housing and location choices," Working Papers 154, Institut National d'Études Démographiques (INED).
  4. Maria Concetta Chiuri & Tullio Jappelli, 2006. "Do the elderly reduce housing equity? An international comparison," CSEF Working Papers 158, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
  5. Joëlle Gaymu & Peter Ekamper & Gijs Beets, 2007. "Qui prendra en charge les Européens âgés dépendants en 2030 ?," Population (french edition), Institut National d'Études Démographiques (INED), vol. 62(4), pages 789-822.
  6. Tatsiramos, Konstantinos, 2006. "Residential Mobility and Housing Adjustment of Older Households in Europe," IZA Discussion Papers 2435, Institute for the Study of Labor (IZA).
  7. Boehm, Thomas P. & Schlottmann, Alan, 2006. "A comparison of household mobility for owned manufactured, traditional owned, and rental units using the American Housing Survey," Journal of Housing Economics, Elsevier, vol. 15(2), pages 126-142, June.
  8. Claude Taffin & Thierry Debrand, 2005. "Les facteurs structurels et conjoncturels de la mobilité résidentielle depuis 20 ans," Économie et Statistique, Programme National Persée, vol. 381(1), pages 125-146.
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Cited by:
  1. D. Isebaert, 2013. "Housing Tenure and Geographical Mobility in Belgium," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 13/855, Ghent University, Faculty of Economics and Business Administration.
  2. Elsa Fornero & Maria Cristina Rossi & Maria Cesira Urzì Brancati, 2011. "Explaining why, right or wrong, (Italian) households do not like reverse mortgages," CeRP Working Papers 123, Center for Research on Pensions and Welfare Policies, Turin (Italy).

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