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Is there a link between home ownership and unemployment levels? Evidence from German regional data

  • Lerbs, Oliver
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    Using German regional data for 1998, 2002 and 2006, this study reexamines the Oswald hypothesis, the conjecture that high levels of home ownership lead to inferior outcomes in regional labor markets. Including a set of controls for regional unemployment rates, three different econometric models are specified and estimated: a cross-sectional model, a pooled data model, and a model taking into account unobserved time-invariant effects on regional unemployment rates. It is found that the link between home ownership and unemployment levels is inverse in cross-section but positive in panel estimations. The economic significance of the relationship is small in both cases, however. Factors like average labor productivity, participation, export orientation and human capital endowment clearly dominate the impact of home ownership on unemployment in German regions.

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    File URL: http://econstor.eu/bitstream/10419/51371/1/67245565X.pdf
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    Paper provided by Center of Applied Economic Research Münster (CAWM), University of Münster in its series CAWM Discussion Papers with number 34.

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    Date of creation: 2010
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    Handle: RePEc:zbw:cawmdp:34
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    1. Taylor, Jim & Bradley, Steve, 1997. "Unemployment in Europe: A Comparative Analysis of Regional Disparities in Germany, Italy and the UK," Kyklos, Wiley Blackwell, vol. 50(2), pages 221-45.
    2. Cameron, Gavin & Muellbauer, John, 1998. "The Housing Market and Regional Commuting and Migration Choices," Scottish Journal of Political Economy, Scottish Economic Society, vol. 45(4), pages 420-46, September.
    3. G Johnes & T. Hyclak, . "House Prices, Migration and Regional Labour Markets," Working Papers ec9/91, Department of Economics, University of Lancaster.
    4. 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.
    5. Coulson, N. Edward & Fisher, Lynn M., 2009. "Housing tenure and labor market impacts: The search goes on," Journal of Urban Economics, Elsevier, vol. 65(3), pages 252-264, May.
    6. Dietz, Robert D. & Haurin, Donald R., 2003. "The social and private micro-level consequences of homeownership," Journal of Urban Economics, Elsevier, vol. 54(3), pages 401-450, November.
    7. Jens Südekum, 2003. "Increasing Returns and Spatial Unemployment Disparities," Departmental Discussion Papers 117, University of Goettingen, Department of Economics.
    8. Casper van Ewijk & Michiel van Leuvensteijn, 2009. "Homeownership and the labour market in Europe," CPB Special Publication 79, CPB Netherlands Bureau for Economic Policy Analysis.
    9. 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.
    10. Haurin, Donald R. & Gill, H. Leroy, 2002. "The Impact of Transaction Costs and the Expected Length of Stay on Homeownership," Journal of Urban Economics, Elsevier, vol. 51(3), pages 563-584, May.
    11. Harald Badinger & Thomas Url, 2002. "Determinants of regional unemployment: some evidence from Austria," Regional Studies, Taylor & Francis Journals, vol. 36(9), pages 977-988.
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