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Title: Home Ownership as a Labor Market Friction
Resulting in 1 citation.
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Ringo, Daniel |
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Home Ownership as a Labor Market Friction Real Estate Economics published online (5 February 2020): DOI: 10.1111/1540-6229.12309. Also: https://onlinelibrary.wiley.com/doi/abs/10.1111/1540-6229.12309 Cohort(s): NLSY79 Publisher: American Real Estate and Urban Economics Association (AREUEA) Keyword(s): Geocoded Data; Home Ownership; Mobility; Unemployment Permission to reprint the abstract has not been received from the publisher. This paper estimates the effect of home ownership on individuals' unemployment. Because of higher moving costs, home owners will be less willing than renters to relocate for work and could therefore face longer unemployment spells. Estimation is complicated by the endogeneity of ownership, as owners will have different abilities, preferences and job prospects than renters. I instrument for home ownership using a preference shifter from the worker's childhood environment. The results indicate that home ownership is a significant hindrance to mobility, and home owners suffer longer unemployment spells because of it. |
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Bibliography Citation
Ringo, Daniel. "Home Ownership as a Labor Market Friction." Real Estate Economics published online (5 February 2020): DOI: 10.1111/1540-6229.12309.
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