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Housing credit and female labour supply: assessing the evidence from Greece

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  • Sarantis Lolos

    (Panteion University)

  • Evangelia Papapetrou

    (Bank of Greece and University of Athens)

Abstract

This paper brings new evidence on the relationship between housing credit and female labour participation decisions by investigating the possible interdependence between the two variables in the case of Greece. This relationship is analysed through the estimation of a probit model with endogenous regressors using household data of the Income and Living Conditions (EU-SILC) survey for 2008. The empirical results show that mortgage and female labour participation decisions are interrelated. In a broader perspective, the evidence provided in our analysis supports the existence of a finance (housing credit) and real economy activity (female labour supply) nexus.

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File URL: http://www.bankofgreece.gr/BogEkdoseis/Paper2011141.pdf
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Bibliographic Info

Paper provided by Bank of Greece in its series Working Papers with number 141.

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Length: 34
Date of creation: Nov 2011
Date of revision:
Handle: RePEc:bog:wpaper:141

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Web page: http://www.bankofgreece.gr
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Keywords: Mortgage market; female labour market participation; endogeneity;

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  1. Brissimis, Sophocles N. & Garganas, Eugenie N. & Hall, Stephen G., 2012. "Consumer credit in an era of financial liberalisation: An overreaction to repressed demand?," MPRA Paper 41819, University Library of Munich, Germany.
  2. Renata Bottazzi, 2004. "Labour market participation and mortgage related borrowing constraints," IFS Working Papers W04/09, Institute for Fiscal Studies.
  3. repec:pra:mprapa:40579 is not listed on IDEAS
  4. Theodore M. Mitrakos & Georgios Th Simigiannis & Panagiota G. Tzamourani, 2005. "Indebtedness of Greek households: evidence from a survey," Economic Bulletin, Bank of Greece, Economic Research Department, issue 25, pages 13-35, AUgust.
  5. Rochelle Belkar & Lynne Cockerell & Rebecca Edwards, 2007. "Labour Force Participation and Household Debt," RBA Research Discussion Papers rdp2007-05, Reserve Bank of Australia.
  6. Nathalie Havet & Alexis Penot, 2010. "Does Home ownership Harm Labour Market Performances? A Survey," Post-Print halshs-00491074, HAL.
  7. Rivers, Douglas & Vuong, Quang H., 1988. "Limited information estimators and exogeneity tests for simultaneous probit models," Journal of Econometrics, Elsevier, vol. 39(3), pages 347-366, November.
  8. Christopher Worswick, 1999. "Credit Constraints and the Labour Supply of Immigrant Families in Canada," Canadian Journal of Economics, Canadian Economics Association, vol. 32(1), pages 152-170, February.
  9. Ohtake, F. & Horioka, C.Y., 1995. "Saving Motives in Japan," ISER Discussion Paper 0392, Institute of Social and Economic Research, Osaka University.
  10. Newey, Whitney K., 1987. "Efficient estimation of limited dependent variable models with endogenous explanatory variables," Journal of Econometrics, Elsevier, vol. 36(3), pages 231-250, November.
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