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A Longitudinal Study of the Residential Mobility of the Elderly in Canada

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  • Yuri Ostrovsky

Abstract

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.

Suggested Citation

  • Yuri Ostrovsky, 2002. "A Longitudinal Study of the Residential Mobility of the Elderly in Canada," Social and Economic Dimensions of an Aging Population Research Papers 78, McMaster University.
  • Handle: RePEc:mcm:sedapp:78
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    File URL: http://socserv.mcmaster.ca/sedap/p/sedap78.pdf
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    References listed on IDEAS

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    1. Steven F. Venti & David A. Wise, 2004. "Aging and Housing Equity: Another Look," NBER Chapters,in: Perspectives on the Economics of Aging, pages 127-180 National Bureau of Economic Research, Inc.
    2. Lechner, Michael, 1995. "Some Specification Tests for Probit Models Estimated on Panel Data," Journal of Business & Economic Statistics, American Statistical Association, vol. 13(4), pages 475-488, October.
    3. Nerlove, Marc, 1971. "Further Evidence on the Estimation of Dynamic Economic Relations from a Time Series of Cross Sections," Econometrica, Econometric Society, vol. 39(2), pages 359-382, March.
    4. Thaler, Richard H, 1994. "Psychology and Savings Policies," American Economic Review, American Economic Association, vol. 84(2), pages 186-192, May.
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    More about this item

    Keywords

    residential mobility; elderly; SLID;

    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination

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