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Credit market constraints and labor market decisions

  • Del Boca, Daniela
  • Lusardi, Annamaria

In this paper, we examine whether imperfections in credit markets spill over to other markets, particularly the labor market. We take the case of Italy, a country that experienced changes in the mortgage market brought about by the 1992 European unification and other institutional shifts. These events make Italy a good laboratory to study the effects of financial markets on the labor market. Using a simultaneous equation framework and household data from the Bank of Italy between 1989 and 1993, we estimate the relationship between female participation and mortgage use. We find a significant impact of mortgages on women’s participation in the labor market.

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Article provided by Elsevier in its journal Labour Economics.

Volume (Year): 10 (2003)
Issue (Month): 6 (December)
Pages: 681-703

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Handle: RePEc:eee:labeco:v:10:y:2003:i:6:p:681-703
Contact details of provider: Web page: http://www.elsevier.com/locate/labeco

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