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Labour market participation and mortgage related borrowing constraints

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  • Renata Bottazzi

    ()
    (Institute for Fiscal Studies)

Abstract

This paper analyses the relationship between female labour market participation and mortgage commitments in life-cycle set up. In particular it examines whether a mortgage qualification constraint has any effect on female labour market participation. This is done by conditioning on the mortgage decision in a labour market participation equation for married women. Endogeneity of the mortgage variable is tested using house price data. Panel data from the British Household Panel Study is used in order to control for unobserved heterogeneity in participation.

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File URL: http://www.ifs.org.uk/wps/wp0409.pdf
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Bibliographic Info

Paper provided by Institute for Fiscal Studies in its series IFS Working Papers with number W04/09.

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Length: 28 pp
Date of creation: Jan 2004
Date of revision:
Handle: RePEc:ifs:ifsewp:04/09

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Keywords: Mortgages; labour market participation; women;

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References

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  1. Donald R. Haurin & Susan M. Wachter & Patric H. Hendershott, 1995. "Wealth Accumulation and Housing Choices of Young Households: An Exploratory Investigation," NBER Working Papers 5070, National Bureau of Economic Research, Inc.
  2. Jones, Lawrence D, 1990. "Current Wealth Constraints on the Housing Demand of Young Owners," The Review of Economics and Statistics, MIT Press, vol. 72(3), pages 424-32, August.
  3. Richard W. Blundell & James L. Powell, 2004. "Endogeneity in Semiparametric Binary Response Models," Review of Economic Studies, Wiley Blackwell, vol. 71, pages 655-679, 07.
  4. Fortin, N.M., 1992. "Allocation Inflexibilities , Female Labor Supply and Housing Assets Accumulation: Are Women Working to Pay the Mortagage," Cahiers de recherche 9204, Universite de Montreal, Departement de sciences economiques.
  5. Alessi, R & Michael Devereux & Guglielmo Weber, 1993. "Intertemporal consumption, durables and liquidity constraints: a cohort analysis," IFS Working Papers W93/07, Institute for Fiscal Studies.
  6. Alessie, R.J.M. & Melenberg, B. & Weber, G., 1987. "Consumption, leisure and earnings-related liquidity constraints: A note," Research Memorandum 295, Tilburg University, Faculty of Economics and Business Administration.
  7. Donald R. Haurin & Patric H. Hendershott & Susan M. Wachter, 1996. "Borrowing Constraints and the Tenure Choice of Young Households," NBER Working Papers 5630, National Bureau of Economic Research, Inc.
  8. William C. LaFayette & Donald R. Haurin & Patric H. Hendershott, 1995. "Endogenous Mortgage Choice, Borrowing Constraints and the Tenure Decision," NBER Working Papers 5074, National Bureau of Economic Research, Inc.
  9. Richard Blundell & Thomas MaCurdy, 1998. "Labour supply: a review of alternative approaches," IFS Working Papers W98/18, Institute for Fiscal Studies.
  10. Smith, Richard J & Blundell, Richard W, 1986. "An Exogeneity Test for a Simultaneous Equation Tobit Model with an Application to Labor Supply," Econometrica, Econometric Society, vol. 54(3), pages 679-85, May.
  11. Chamberlain, Gary, 1984. "Panel data," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 22, pages 1247-1318 Elsevier.
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Citations

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Cited by:
  1. R. Bottazzi & T. Crossley & M. Wakefield, 2011. "House Prices and Home Ownership: a Cohort Analysis," Working Papers wp790, Dipartimento Scienze Economiche, Universita' di Bologna.
  2. Sarantis Lolos & Evangelia Papapetrou, 2011. "Housing credit and female labour supply: assessing the evidence from Greece," Working Papers 141, Bank of Greece.
  3. Renata Bottazzi & Hamish Low & Matthew Wakefield, 2007. "Why do home owners work longer hours?," IFS Working Papers W07/10, Institute for Fiscal Studies.
  4. Rochelle Belkar & Lynne Cockerell & Rebecca Edwards, 2007. "Labour Force Participation and Household Debt," RBA Research Discussion Papers rdp2007-05, Reserve Bank of Australia.
  5. Shoshana Grossbard & Elena Stancanelli, 2010. "Whose time? Who saves? Introduction to a special issue on couples’ savings, time use and children," Review of Economics of the Household, Springer, vol. 8(3), pages 289-296, September.
  6. Renata Bottazzi & Thomas Crossley & Matthew Wakefield, 2012. "Late starters or excluded generations? A cohort analysis of catch up in homeownership in England," Koç University-TUSIAD Economic Research Forum Working Papers 1215, Koc University-TUSIAD Economic Research Forum.

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