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Are Home Owners Really more Unemployed?

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Author Info
Michael Svarer (Department of Economics, University of Aarhus)
Michael Rosholm (Department of Economics, University of Aarhus)
Jacob Roland Munch (Danish Economic Council)

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Abstract

This paper investigates the effect 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 homeowners, 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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File URL: http://www.econ.ku.dk/CAM/Files/workingpapers/2003/2003-09_home_owner.pdf
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Publisher Info
Paper provided by University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics in its series CAM Working Papers with number 2003-09.

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Length: 18 pages
Date of creation: Sep 2003
Date of revision:
Handle: RePEc:kud:kuieca:2003_09

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Related research
Keywords: home ownership; labour mobility; unemployment duration;

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Find related papers by JEL classification:
C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis
J61 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Geographic Labor Mobility; Immigrant Workers
J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
R23 - Urban, Rural, and Regional Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population

References listed on IDEAS
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.:

  1. Munch, Jakob Roland & Svarer, Michael, 2002. "Rent control and tenancy duration," Journal of Urban Economics, Elsevier, vol. 52(3), pages 542-560, November. [Downloadable!] (restricted)
    Other versions:
  2. Michael Svarer & Michael Rosholm & Jacob Roland Munch, 2003. "Rent Control and Unemployment Duration," CAM Working Papers 2003-07, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics. [Downloadable!]
    Other versions:
  3. Holm, Anders, 2002. "The effect of training on search durations: a random effects approach," Labour Economics, Elsevier, vol. 9(3), pages 433-450, July. [Downloadable!] (restricted)
  4. Oswald Andrew J., 1996. "A Conjecture on the Explanation for High Unemployment in the Industrialized Nations : Part I," The Warwick Economics Research Paper Series (TWERPS) 475, University of Warwick, Department of Economics. [Downloadable!]
  5. Nickell, S. & Layard, R., 1997. "Labour Market Institutions and Economic Performance," Papers 23, Centre for Economic Performance & Institute of Economics.
    Other versions:
  6. Decressin, Jorg & Fatas, Antonio, 1995. "Regional labor market dynamics in Europe," European Economic Review, Elsevier, vol. 39(9), pages 1627-1655, December. [Downloadable!] (restricted)
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  7. Paul Gregg & Stephen Machin & Alan Manning, 2004. "Mobility and Joblessness," NBER Chapters, in: Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980-2000, pages 371-410 National Bureau of Economic Research, Inc. [Downloadable!]
  8. Richard K. Green & Patric H. Hendershott, 1999. "Home Ownership and Unemployment in the U.S," Wisconsin-Madison CULER working papers 99-15, University of Wisconsin Center for Urban Land Economic Research. [Downloadable!]
  9. Jochen Kluve & Christoph M. Schmidt, 2002. "Can training and employment subsidies combat European unemployment?," Economic Policy, CEPR, CES, MSH, vol. 17(35), pages 409-448, October. [Downloadable!] (restricted)
  10. van Leuvensteijn, Michiel & Koning, Pierre, 2004. "The effect of home-ownership on labor mobility in the Netherlands," Journal of Urban Economics, Elsevier, vol. 55(3), pages 580-596, May. [Downloadable!] (restricted)
    Other versions:
Full references

Cited by:
(explanations, 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.)

  1. Pablo Casas-Arce & Albert Saiz, 2006. "Owning versus leasing: do courts matter?," Working Papers 06-21, Federal Reserve Bank of Philadelphia. [Downloadable!]
  2. Allen Head & Huw Lloyd-Ellis, 2008. "Housing Liquidity, Mobility, and the Labour Market," Working Papers 1197, Queen's University, Department of Economics. [Downloadable!]
  3. Aico van Vuuren & Michiel van Leuvensteijn, 2007. "The impact of homeownership on unemployment in the Netherlands," CPB Discussion Papers 86, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
  4. repec:ese:iserwp: is not listed on IDEAS
  5. Namkee Ahn & Maite Blázquez, 2007. "Residential Mobility and Labor Market Transitions: Relative Effects of Housing Tenure, Satisfaction and Other Variables," Working Papers 2007-05, FEDEA. [Downloadable!]
  6. Damm, Anna Piil & Rosholm, Michael, 2003. "Employment Effects of Dispersal Policies on Refugee Immigrants, Part I: Theory," IZA Discussion Papers 924, Institute for the Study of Labor (IZA). [Downloadable!]
  7. Christian Dustmann & Teresa casey, 2005. "Intergenerational transmission of language capital and economic outcomes," CReAM Discussion Paper Series 0506, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London. [Downloadable!]
    Other versions:
  8. Florence Goffette-Nagot & Claire Dujardin, 2008. "Does public housing occupancy increase unemployment?," Working Papers 0833, Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure. [Downloadable!]
    Other versions:
  9. Jakob Roland Munch & Michael Rosholm & Michael Svarer, 2006. "Home Ownership, Job Duration, and Wages," Economics Working Papers 2006-06, School of Economics and Management, University of Aarhus. [Downloadable!]
    Other versions:
  10. Jan Rouwendal & Peter Nijkamp, 2007. "Homeownership and Labour Market Behaviour: Interpreting the Evidence," Tinbergen Institute Discussion Papers 07-047/3, Tinbergen Institute, revised 03 Nov 2008. [Downloadable!]
  11. Piil Damm, Anna & Rosholm, Michael, 2005. "Employment Effects of Dispersal Policies on Refugee Immigrants: Theory," Working Papers 05-1, University of Aarhus, Aarhus School of Business, Department of Economics. [Downloadable!]
  12. Carole Brunet & Jean-Yves Lesueur, 2004. "Le statut résidentiel affecte-t-il la durée de chômage ? Une estimation micro-économétrique sur données françaises," Post-Print halshs-00330653_v1, HAL. [Downloadable!]
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