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The role of the housing market in workers′ resilience to job displacement after firm bankruptcy

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  • Meekes, Jordy
  • Hassink, Wolter H.J.

Abstract

We examine the role of the housing market in workers’ adjustment to job displacement. Dutch administrative monthly data were used and analysed with a quasi-experimental design involving job displacement. The estimates show that displaced workers, relative to comparable non-displaced workers, experience besides substantial losses in employment and wages also large increases in the commuting distance. Remarkably, we find that the displacement effect on the probability of changing home is negative. Thus for displaced workers commuting seems to be a more relevant margin of labour adjustment than changing home. The patterns in displacement effects change over the worker’s post-displacement period – the negative effect on wages becomes more pronounced, whereas the increase in the commuting distance diminishes. The results suggest that displaced workers who are longer unemployed prefer working closer to home over higher wages. Also, we examine the role of workers’ housing state in the displacement effects. We find that leveraged displaced owners, compared with displaced tenants and outright owners, are more rapidly re-employed and experience a smaller increase in the commuting distance but also a higher loss in wage.

Suggested Citation

  • Meekes, Jordy & Hassink, Wolter H.J., 2019. "The role of the housing market in workers′ resilience to job displacement after firm bankruptcy," Journal of Urban Economics, Elsevier, vol. 109(C), pages 41-65.
  • Handle: RePEc:eee:juecon:v:109:y:2019:i:c:p:41-65
    DOI: 10.1016/j.jue.2018.11.005
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    Cited by:

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    2. J. Meekes & W.H.J. Hassink, 2018. "Endogenous local labour markets, regional aggregation and agglomeration economies," Working Papers 18-03, Utrecht School of Economics.
    3. Meekes, Jordy & Hassink, Wolter, 2020. "Fired and Pregnant: Gender Differences in Job Flexibility Outcomes after Job Loss," IZA Discussion Papers 13779, Institute of Labor Economics (IZA).
    4. Laws, A., 2020. "Localised employment spillovers," Cambridge Working Papers in Economics 2067, Faculty of Economics, University of Cambridge.
    5. Lu Zhang, 2019. "Do house prices matter for household consumption?," CPB Discussion Paper 396, CPB Netherlands Bureau for Economic Policy Analysis.
    6. Lu Zhang, 2019. "Do house prices matter for household consumption?," CPB Discussion Paper 396.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    7. Maczulskij, Terhi & Böckerman, Petri, 2019. "Losing a Job and (Dis)incentives to Move," ETLA Working Papers 75, The Research Institute of the Finnish Economy.

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    Keywords

    Commuting distance; Geographic mobility; Housing state; Employment; Wages;
    All these keywords.

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • J65 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment Insurance; Severance Pay; Plant Closings
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population

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