Are Home Owners Really more Unemployed?

Michael Svarer, Michael Rosholm and Jakob Munch

No 2003-09, CAM Working Papers from University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics

Abstract: This paper investigates the effect of home ownership on labour mobility and unemployment duration. We distinguish between finding employment locally, or by being geographically mobile. We find that home ownership hampers the propensity to move for job reasons but improves the chances of finding local jobs, which is in accordance with the predictions from our theoretical model. The overall hazard rate into employment is higher for homeowners, such that there is a negative correlation between home ownership and unemployment duration. Our empirical findings thus lend some support for the main mechanism behind the so-called Oswald hypothesis, even if it does not find positive correlation between unemployment duration and home ownership at the individual level.

Keywords: home ownership; labour mobility; unemployment duration (search for similar items in EconPapers)
JEL-codes: C41 J61 J64 R23 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2003-09
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Citations: View citations in EconPapers (11)

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Related works:
Journal Article: Are Homeowners Really More Unemployed? (2006)
Working Paper: Are Home Owners Really More Unemployed? (2003)
Working Paper: Are Home Owners Really More Unemployed?
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