House prices, wealth effects and labour supply

Richard Disney and John Gathergood

No 556, CFS Working Paper Series from Center for Financial Studies (CFS)

Abstract: We examine the impact of house prices on labour supply decisions using UK micro data. We combine household survey data with local level house price measures and controls for local labour demand. Our micro data also allows us to control for individual level income expectations. We find significant house price effects on labour supply, consistent with leisure being a normal good. Labour supply responses to house prices are concentrated among young married female owners and older owners. This finding suggests house prices affect the decisions of marginal workers in the economy. Our estimates imply house prices are economically important for the participation decisions for these workers.

Keywords: Labour supply; Wealth effects; House prices (search for similar items in EconPapers)
JEL-codes: D12 E21 J22 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-dem, nep-eur, nep-lma, nep-mac and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: House Prices, Wealth Effects and Labour Supply (2018)
Working Paper: House prices wealth effect and labor supply (2015)
Working Paper: House prices, wealth effects and labor supply (2014)
Working Paper: House Prices, Wealth Effects and Labour Supply (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:cfswop:556

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