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Economic freedom, homeownership, and state labor market conditions

Author

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  • Lauren R. Heller
  • E. Frank Stephenson

Abstract

Purpose - – The purpose of this paper is to reconcile research finding that labor market outcomes are related to economic freedom for entrepreneurs and separate research finding that higher homeownership rates are associated with more unemployment. Design/methodology/approach - – Using panel data covering the 50 states over 1981-2009, this paper analyzes the relationship between labor market conditions, economic freedom, and homeownership rates. Findings - – The results indicate that economic freedom is associated with favorable labor market conditions but that the relationship between homeownership and poor labor market outcomes is small and insignificant in most specifications once economic freedom is accounted for. Originality/value - – This paper is the first paper to examine the relationship between labor market outcomes and both homeownership and economic freedom. The results suggest that the economic environment for entrepreneurs is more important than any rigidities created by homeownership.

Suggested Citation

  • Lauren R. Heller & E. Frank Stephenson, 2015. "Economic freedom, homeownership, and state labor market conditions," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 4(2), pages 142-151, August.
    • Handle: RePEc:eme:jepppp:v:4:y:2015:i:2:p:142-151
    DOI: 10.1108/JEPP-06-2014-0026
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    Citations

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    Cited by:

    1. Gaetano Lisi, 2017. "Homeownership and entrepreneurship," Working Papers. Serie AD 2017-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    2. Gaetano Lisi, 2018. "NIMBY effect, mortgage payments and firm size: the different impact of homeownership on new businesses," Economics Bulletin, AccessEcon, vol. 38(2), pages 908-915.
    3. Gaetano Lisi, 2019. "Homeownership and entrepreneurship: a search-and-matching model and a panel analysis in Italy," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(3), pages 673-694, October.

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