IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Housing, Wages and UK Labour Markets

  • Bover, Olympia
  • Muellbauer, John
  • Murphy, Anthony

There is a considerable literature concerning the effects on labor mobility of imperfections in United Kingdom markets for rented housing (such as the 1987 book by Minford et al. and several articles by Hughes and McCormick). This paper examines the interaction of labor and housing markets, including the owner-occupied sector, in a more general framework. Our analysis has implications for the behavior of aggregate wages in the UK and for the relationship between aggregate unemployment and unfilled vacancies, which in part reflects mismatch between jobs and people. Our empirical analysis reveals that lagged values of regional differentials in the ratio of house prices to earnings play an important role in both the wage and the unemployment/vacancies equations. In addition, lagged values of average house prices have a significant 'cost-of-living' effect on wages. Our evidence is consistent with cross-sectional evidence on the effects of tenure structure on mobility; we find some effects from the 1965 and 1974 Rent Acts.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=268
Download Restriction: CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 268.

as
in new window

Length:
Date of creation: Jul 1988
Date of revision:
Handle: RePEc:cpr:ceprdp:268
Contact details of provider: Postal: Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ.
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820

Order Information: Email:


No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:268. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.