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Homeownership and Commutes

  • Jan Rouwendal

    ()

  • Peter Nijkamp

    ()

According to Oswald's hypothesis homeowners experience more problems in finding a new job after becoming unemployed because their moving costs are higher than those of renters. Empirical research has revealed that this effect is counteracted by the job search behavior of unemployed homeowners: they accept a job on the local labor market, that is, a job that does not force them to move to a different residential location, more frequently than unemployed renters. One possible explanation of this result is that the local labor market is larger for homeowners than for renters, in the sense that they are willing to accept longer commutes. This suggests that the longer commutes of homeowners (a well known empirical fact) are partly caused by higher moving costs. In this paper we analyze the validity of this explanation by investigating the relationship between homeownership and commutes while controlling for other variables, and possible effects of selection and heterogeneity.

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File URL: http://www-sre.wu.ac.at/ersa/ersaconfs/ersa10/ERSA2010finalpaper1623.pdf
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Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa10p1623.

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Date of creation: Sep 2011
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Handle: RePEc:wiw:wiwrsa:ersa10p1623
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  1. Nickell, Stephen, 1998. "Unemployment: Questions and Some Answers," Economic Journal, Royal Economic Society, vol. 108(448), pages 802-16, May.
  2. Raj Chetty, 2008. "Moral Hazard vs. Liquidity and Optimal Unemployment Insurance," NBER Working Papers 13967, National Bureau of Economic Research, Inc.
  3. Rasmus Lentz & Torben Tranaes, 2001. "Job Search and Savings: Wealth Effects and Duration Dependence," CESifo Working Paper Series 461, CESifo Group Munich.
  4. David Card & Raj Chetty & Andrea Weber, 2007. "Cash-On-Hand and Competing Models of Intertemporal Behavior: New Evidence from the Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 122(4), pages 1511-1560, November.
  5. Raj Chetty, 2004. "Consumption Commitments, Unemployment Durations, and Local Risk Aversion," NBER Working Papers 10211, National Bureau of Economic Research, Inc.
  6. Mark Partridge & Dan Rickman, 1997. "The Dispersion of US State Unemployment Rates: The Role of Market and Non-market Equilibrium Factors," Regional Studies, Taylor & Francis Journals, vol. 31(6), pages 593-606.
  7. Henley, Andrew, 1998. "Residential Mobility, Housing Equity and the Labour Market," Economic Journal, Royal Economic Society, vol. 108(447), pages 414-27, March.
  8. Carole Brunet & Jean-Yves Lesueur, 2003. "Do homeowners stay unemployed longer ? A French micro-econometric study," Post-Print halshs-00178576, HAL.
  9. Oswald Andrew J., 1996. "A Conjecture on the Explanation for High Unemployment in the Industrialized Nations : Part I," The Warwick Economics Research Paper Series (TWERPS) 475, University of Warwick, Department of Economics.
  10. Stephen Nickell, 1997. "Unemployment and Labor Market Rigidities: Europe versus North America," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 55-74, Summer.
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