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Are Home Owners Really more Unemployed?

Author

Listed:
  • Michael Svarer

    (Department of Economics, University of Aarhus)

  • Michael Rosholm

    (Department of Economics, University of Aarhus)

  • Jacob Roland Munch

    (Danish Economic Council)

Abstract

This paper investigates the effect of home ownership on labour mobility and unemployment duration. We distinguish between finding employment locally, or by being geographically mobile. We find that home ownership hampers the propensity to move for job reasons but improves the chances of finding local jobs, which is in accordance with the predictions from our theoretical model. The overall hazard rate into employment is higher for homeowners, such that there is a negative correlation between home ownership and unemployment duration. Our empirical findings thus lend some support for the main mechanism behind the so-called Oswald hypothesis, even if it does not find positive correlation between unemployment duration and home ownership at the individual level.

Suggested Citation

  • Michael Svarer & Michael Rosholm & Jacob Roland Munch, 2003. "Are Home Owners Really more Unemployed?," CAM Working Papers 2003-09, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
    • Handle: RePEc:kud:kuieca:2003_09
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    More about this item

    Keywords

    home ownership; labour mobility; unemployment duration;
    All these keywords.

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population

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