A Longitudinal Study of the Residential Mobility of the Elderly in Canada
An intensely debated question in the lifecycle literature is whether housing wealth is viewed by households as a financial asset that will be used to support general consumption after retirement. This paper uses the newly available longitudinal Canadian Survey of Labour and Income Dynamics (SLID) to investigate the factors influencing elderly households' residential mobility choices. A dynamic non-linear panel (longitudinal) data dynamic model is employed. I use the Bover-Arellano estimator (Chamberlain's class of estimators), based on reduced form predictions of the latent dependent variable. The residential mobility of the elderly appears to be affected mostly by moving costs, which are different for owners and non-owners.
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