On the Aggregate Housing Market Implications of Labour Market Change
Labor markets in the United Kingdom have undergone important structural changes in recent years. Given the close relationship between labor and housing markets, these changes are likely to have had knock-on effects to housing. This paper examines the quantitative evidence in this area in terms of aggregate housing demand and house prices, set in a life-cycle framework. The paper finds evidence of structural change in the 1990s in the traditional relationships used to predict house price movements which can, at least partly, be attributed to changes in the labor market. Copyright 1998 by Scottish Economic Society.
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Volume (Year): 45 (1998)
Issue (Month): 4 (September)
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