Does Owning Your Home Make You Happier? Impact Evidence from Latin America
AbstractIn this paper we present evidence that homeowners are happier than nonhomeowners and it is homeownership that causes the difference in happiness. The data used is for seventeen Latin American countries obtained from the LatinBarometer surveys. The association between homeownership and happiness is measured by an ordered logit regression with a comprehensive set of sociodemographic control variable with errors clustered at year and country. Happiness and ownership are positively and statistically significantly related. Causality is determined through nonparametric impact measure via the propensity score matching technique. Homeownership causes increased happiness. The impact result is robust to the problem of hidden bias. The impact conclusion also holds in a meta-impact approach where impacts are calculated for each country separately. Owning your home makes you happier, at least in Latin America.
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Bibliographic InfoPaper provided by Inter-American Development Bank, Office of Evaluation and Oversight (OVE) in its series OVE Working Papers with number 0210.
Length: 21 pages
Date of creation: Nov 2010
Date of revision:
Home Ownership; Happiness;
Other versions of this item:
- Inder J. Ruprah, 2010. "Does Owning Your Home Make You Happier?: Impact Evidence from Latin America," IDB Publications 24078, Inter-American Development Bank.
- R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
- I00 - Health, Education, and Welfare - - General - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-01-23 (All new papers)
- NEP-HAP-2011-01-23 (Economics of Happiness)
- NEP-LAM-2011-01-23 (Central & South America)
- NEP-URE-2011-01-23 (Urban & Real Estate Economics)
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.:
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"Dealing with Limited Overlap in Estimation of Average Treatment Effects,"
0716, University of Miami, Department of Economics, revised 12 Jun 2007.
- Richard K. Crump & V. Joseph Hotz & Guido W. Imbens & Oscar A. Mitnik, 2009. "Dealing with limited overlap in estimation of average treatment effects," Biometrika, Biometrika Trust, vol. 96(1), pages 187-199.
- Hotz, V. Joseph & Crump, Richard K. & Mitnik, Oscar A. & Imbens, Guido, 2009. "Dealing with Limited Overlap in Estimation of Average Treatment Effects," Scholarly Articles 3007645, Harvard University Department of Economics.
- Bernard M.S. van Praag & P. Frijters & A. Ferrer-i-Carbonell, 2002.
"The Anatomy of Subjective Well-being,"
Tinbergen Institute Discussion Papers
02-022/3, Tinbergen Institute.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Latin American home owners are happier, unlike US ones
by Economic Logician in Economic Logic on 2011-03-02 15:44:00
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