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Homeownership and (un)employment: Search theory and empirical evidence from a system GMM

Author

Listed:
  • Gaetano Lisi

    (eCampus University)

Abstract

This paper suggests that the sign of the relation between homeownership and (un)employment changes according to both the type of homeowner and the market considered. In the housing market, employment positively affects homeownership with a mortgage (home search), whereas, in the labour market, outright homeownership negatively affects employment (job search). A panel analysis (on 27 European countries for the period 2014-2023) confirms the theoretical hypotheses. An augmented Generalized Method of Moments (GMM) version, known as “system GMM”, is used to tackle endogeneity.

Suggested Citation

  • Gaetano Lisi, 2025. "Homeownership and (un)employment: Search theory and empirical evidence from a system GMM," Economics Bulletin, AccessEcon, vol. 45(4), pages 1723-1734.
    • Handle: RePEc:ebl:ecbull:eb-25-00395
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    File URL: http://www.accessecon.com/Pubs/EB/2025/Volume45/EB-25-V45-I4-P150.pdf
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    Keywords

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    JEL classification:

    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables

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