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Unsettled: Job Insecurity Reduces Home-Ownership

Author

Listed:
  • Anthony Lepinteur

    (uni.lu - Université du Luxembourg = University of Luxembourg = Universität Luxemburg)

  • Andrew E Clark

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, uni.lu - Université du Luxembourg = University of Luxembourg = Universität Luxemburg)

  • Conchita d'Ambrosio

    (uni.lu - Université du Luxembourg = University of Luxembourg = Universität Luxemburg)

Abstract

We here evaluate the link between job insecurity and one of the most-important decisions that individuals take: homeownership. The 1999 rise in the French Delalande tax on firms that laid off older workers produced an unexpected exogenous rise in job insecurity for younger workers. A difference-in-differences analysis of panel data from the European Community Household Panel shows that this greater job insecurity significantly reduced the probability of becoming a homeowner. This drop seems more attributable to individual preferences rather than greater capital constraints, consistent with individuals reducing their exposure to long-term financial commitments in more-uncertain environments.

Suggested Citation

  • Anthony Lepinteur & Andrew E Clark & Conchita d'Ambrosio, 2024. "Unsettled: Job Insecurity Reduces Home-Ownership," Working Papers halshs-04589079, HAL.
    • Handle: RePEc:hal:wpaper:halshs-04589079
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-04589079v1
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    JEL classification:

    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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