A Conjecture on the Explanation for High Unemployment in the Industrialized Nations : Part I
AbstractThe paper conjectures that the high unemployment of the Western economies has been produced by the decline of the private house-rental market and the rise of home-ownership. Evidence is provided for the developed nations, the states of the USA, and the regions of the UK, Italy, France and Sweden. Although its calculations should be viewed as tentative, the paper's results imply that a 10 percentage point rise in the owner-occupation rate is associated with an increase of approximately 2 percentage points in the unemployment rate. This would be sufficient to explain a significant part of the rise in joblessness in the industrialized countries.
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Bibliographic InfoPaper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 475.
Length: 42 pages
Date of creation: 1996
Date of revision:
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Study: Higher levels of homeownership can kill jobs
by Brad Plumer in Ezra Klein's Wonkblog on 2013-05-07 16:11:16
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