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Credit Market Constraints and Labor Market Decisions

  • Del Boca, Daniela

    ()

    (University of Turin)

  • Lusardi, Annamaria

    ()

    (Dartmouth College)

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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File URL: http://ftp.iza.org/dp598.pdf
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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 598.

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Length: 44 pages
Date of creation: Oct 2002
Date of revision:
Publication status: published in: Labour Economics, 2003, 10 (5), 681-703
Handle: RePEc:iza:izadps:dp598
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