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Do homeowners stay unemployed longer ? A French micro-econometric study Les propriétaires restent-ils plus longtemps au chômage ? Une investigation micro-économétrique sur données françaises

Author

Listed:
  • Carole Brunet

    (GATE CNRS Université Lyon 2)

  • Jean-Yves Lesueur

Abstract

The objective of this paper is to provide microeconomic evidence for the so called “Oswald’s hypothesis”, which is whether homeownership results in negative outcomes in the labour market. In a first step, a multinomial logit model for the choice of tenure status is estimated. Estimated probabilities of being either homeowner, renter or housed free of charge are then used to explain the length of an individual unemployment spell. This flexible method of estimation accounts for both censoring and selection bias, without constraining the shape of the hazard rate of leaving unemployment. Results from a 3,965 individuals French data set suggest that homeownership has a positive effect on unemployment duration.

Suggested Citation

  • Carole Brunet & Jean-Yves Lesueur, 2003. "Do homeowners stay unemployed longer ? A French micro-econometric study Les propriétaires restent-ils plus longtemps au chômage ? Une investigation micro-économétrique sur données françaises," Working Papers 0307, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    • Handle: RePEc:gat:wpaper:0307
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    References listed on IDEAS

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    1. Wasmer, Etienne & Zenou, Yves, 2002. "Does City Structure Affect Job Search and Welfare?," Journal of Urban Economics, Elsevier, vol. 51(3), pages 515-541, May.
    2. Claudie Louvot, 2001. "Le logement dans l'Union européenne : la propriété prend le pas sur la location," Économie et Statistique, Programme National Persée, vol. 343(1), pages 29-50.
    3. Nickell, Stephen & Layard, Richard, 1999. "Labor market institutions and economic performance," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 46, pages 3029-3084, Elsevier.
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    More about this item

    Keywords

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    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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