Leaving home and housing prices. The experience of Italian youth emancipation
AbstractThis paper provides an explanation for the postponement of the youth emancipa- tion in the Italian context mainly characterized by a sharp increase in both house and rent prices together with a stagnant disposable income over the last decade. We first assemble a unique database related to the housing and rental market value which is then matched with household characteristics. We find a significant effect of the real estate market: the probability of moving out decreases by about 0.45% and 1.18% for males and females respectively for a one-standard-deviation increase in house prices. Together with property prices, local labour markets play a prominent role in determin- ing unemployed youth decisions to postpone the transition. The youngest cohort was mainly affected by the real estate market evolution occurred in the last decade
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Bibliographic InfoPaper provided by Department of Economics, University of Trento, Italia in its series Department of Economics Working Papers with number 1101.
Date of creation: 2011
Date of revision:
coresidence; moving out; real estate market; discrete time duration model;
Other versions of this item:
- Francesca Modena & Concetta Rondinelli, 2011. "Leaving home and housing prices. The experience of Italian youth emancipation," Temi di discussione (Economic working papers) 818, Bank of Italy, Economic Research and International Relations Area.
- C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
- D1 - Microeconomics - - Household Behavior
- J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
- R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-03-05 (All new papers)
- NEP-MIG-2011-03-05 (Economics of Human Migration)
- NEP-SOC-2011-03-05 (Social Norms & Social Capital)
- NEP-URE-2011-03-05 (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.:
- Giovanni D'Alessio & Romina Gambacorta, 2007. "Home affordability in Italy," Questioni di Economia e Finanza (Occasional Papers) 9, Bank of Italy, Economic Research and International Relations Area.
- Berloffa, Gabriella & Modena, Francesca, 2012.
"Economic well-being in Italy: The role of income insecurity and intergenerational inequality,"
Journal of Economic Behavior & Organization,
Elsevier, vol. 81(3), pages 751-765.
- Gabriella Berloffa & Francesca Modena, 2010. "Economic well-being in Italy: The role of income insecurity and intergenerational inequality," Working Papers 168, ECINEQ, Society for the Study of Economic Inequality.
- Roberto Felici & Elisabetta Manzoli & Raffaella Pico, 2012. "Crisis and Italian households: a microeconomic analysis of mortgage contracts," Questioni di Economia e Finanza (Occasional Papers) 125, Bank of Italy, Economic Research and International Relations Area.
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