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Title: Nominal Loss Aversion, Housing Equity Constraints, and Household Mobility: Evidence from the United States
Resulting in 1 citation.
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Engelhardt, Gary V. |
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Nominal Loss Aversion, Housing Equity Constraints, and Household Mobility: Evidence from the United States Journal of Urban Economics 53,1 (January 2003): 171-195. Also: http://www.sciencedirect.com/science/article/pii/S0094119002005119 Cohort(s): NLSY79 Publisher: Academic Press, Inc. Keyword(s): Home Ownership; Mobility This paper exploits the recent variation in US house prices to examine the effect of equity constraints and nominal loss aversion on household mobility. Detailed data from the 1985-1996 National Longitudinal Survey of Youth (NLSY79) were matched with house price data from 149 metropolitan areas to estimate instrumental variables linear probability and semi-parametric proportional hazard models of intra-metropolitan mobility. Household mobility is significantly influenced by nominal loss aversion. There is little evidence that low equity because of fallen house prices constrains mobility. [Copyright 2003 Elsevier] |
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Bibliography Citation
Engelhardt, Gary V. "Nominal Loss Aversion, Housing Equity Constraints, and Household Mobility: Evidence from the United States." Journal of Urban Economics 53,1 (January 2003): 171-195.
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