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Home-ownership and the Labour Market: Evidence from Rental Housing Market Deregulation

Author

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  • Jani-Petri Laamanen

    (School of Management, University of Tampere)

Abstract

Perhaps the most common finding relating housing to the labour market is that high home-ownership rates are associated with higher unemployment. In contrast, recent micro-evidence suggests that homeowners have relatively favourable labour market outcomes. We explore the effect of home-ownership on unemployment exploiting a rental housing market deregulation reform which created exogenous variation in home-ownership across regions, allowing us to avoid the endogeneity problem in earlier studies. While home-owners are less likely to experience unemployment, an increase in the home-ownership rate causes unemployment to rise. Externalities arising from consumption reductions and increased job competition may explain the conflicting evidence.

Suggested Citation

  • Jani-Petri Laamanen, 2013. "Home-ownership and the Labour Market: Evidence from Rental Housing Market Deregulation," Working Papers 1389, Tampere University, Faculty of Management and Business, Economics.
    • Handle: RePEc:tam:wpaper:1389
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    File URL: http://urn.fi/URN:ISBN:978-951-44-9148-1
    File Function: First version, 2013
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    JEL classification:

    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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