Late starters or excluded generations? A cohort analysis of catch up in homeownership in England
AbstractWe investigate whether initial differences in speed of entry into homeownership lead to longlasting differences in ownership between generations. Our data span nearly forty years and multiple cycles of England’s very volatile house prices. We document that ownership rates at thirty have differed substantially, with a significant negative association with prices. To assess the persistence of these differences we use synthetic cohort methods. Measurement error problems – attenuation and other biases - complicate the analysis. Two methods of dealing with this both indicate that cohorts with low ownership rates at thirty close about 80% of the ownership gap by forty.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Koc University-TUSIAD Economic Research Forum in its series Koç University-TUSIAD Economic Research Forum Working Papers with number 1215.
Length: 41 pages
Date of creation: Jun 2012
Date of revision:
homeownership; synthetic cohort data; measurement error.;
Find related papers by JEL classification:
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
This paper has been announced in the following NEP Reports:
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.:
- Steven C. Bourassa & Martin Hoesli, 2006.
"Why Do the Swiss Rent?,"
Swiss Finance Institute Research Paper Series
07-04, Swiss Finance Institute.
- Maria Concetta Chiuri & Tullio Jappelli, 2000.
"Financial Market Imperfections and Home Ownership: A Comparative Study,"
CSEF Working Papers
44, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 01 Dec 2000.
- Chiuri, Maria Concetta & Jappelli, Tullio, 2003. "Financial market imperfections and home ownership: A comparative study," European Economic Review, Elsevier, vol. 47(5), pages 857-875, October.
- Chiuri, Maria Concetta & Jappelli, Tullio, 2001. "Financial Market Imperfections and Home Ownership: A Comparative Study," CEPR Discussion Papers 2717, C.E.P.R. Discussion Papers.
- Renata Bottazzi & Hamish Low & Matthew Wakefield, 2007. "Why do home owners work longer hours?," IFS Working Papers W07/10, Institute for Fiscal Studies.
- Thomas F. Crossley & Yuri Ostrovsky, 2003. "A Synthetic Cohort Analysis of Canadian Housing Careers," Social and Economic Dimensions of an Aging Population Research Papers 107, McMaster University.
- 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.
- Maria Chiuri & Tullio Jappelli, 2010. "Do the elderly reduce housing equity? An international comparison," Journal of Population Economics, Springer, vol. 23(2), pages 643-663, March.
- Chiuri, Maria Concetta & Jappelli, Tullio, 2008. "Do the elderly reduce housing equity? An international comparison," CFS Working Paper Series 2008/20, Center for Financial Studies (CFS).
- Renata Bottazzi, 2004. "Labour market participation and mortgage related borrowing constraints," IFS Working Papers W04/09, Institute for Fiscal Studies.
- Deaton, Angus, 1985. "Panel data from time series of cross-sections," Journal of Econometrics, Elsevier, vol. 30(1-2), pages 109-126.
- Cloyne, James & Surico, Paolo, 2013.
"Household Debt and the Dynamic Effects of Income Tax Changes,"
CEPR Discussion Papers
9649, C.E.P.R. Discussion Papers.
- Cloyne, James & Surico, Paolo, 2014. "Household debt and the dynamic effects of income tax changes," Bank of England working papers 491, Bank of England.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sumru Oz).
If references are entirely missing, you can add them using this form.