Are Home Owners Really More Unemployed?
AbstractThis paper investigates the effects of home-ownership on labour mobility and unemployment duration. We distinguish between finding employment locally or by being geographically mobile. We find that home ownership hampers the propensity to move for job reasons but improves the chances of finding local jobs, which is in accordance with the predictions from our theoretical model. The overall hazard rate into employment is higher for home owners, such that there is a negative correlation between home-ownership and unemployment duration. Our empirical findings thus lend some support for the main mechanism behind the so-called Oswald hypothesis, even if it does not find positive correlation between unemployment duration and home ownership at the individual level.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 872.
Length: 31 pages
Date of creation: Sep 2003
Date of revision:
Publication status: published in: Economic Journal, 2006, 116 (514), 991-1013
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Other versions of this item:
- Munch, Jakob Roland & Rosholm, Michael & Svarer, Michael, . "Are Home Owners Really More Unemployed?," Economics Working Papers, School of Economics and Management, University of Aarhus 2003-15, School of Economics and Management, University of Aarhus.
- Michael Svarer & Michael Rosholm & Jacob Roland Munch, 2003. "Are Home Owners Really more Unemployed?," CAM Working Papers, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics 2003-09, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
- C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
- J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
- R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
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