Bombs, homes, and jobs: Revisiting the Oswald hypothesis for Germany

Nikolaus Wolf and Paul Caruana-Galizia

Economics Letters, 2015, vol. 135, issue C, 65-68

Abstract: Andrew Oswald (1996) hypothesized that homeownership restricts commercial development and labour mobility, increasing unemployment. Instrumenting homeownership with WWII Allied bombing for a German regional panel, we find homeownership has a large positive effect on unemployment, and homeownership decreases labour mobility.

Keywords: Home ownership; Unemployment; Bombing; Germany (search for similar items in EconPapers)
JEL-codes: J01 J6 O18 R10 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (16)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:135:y:2015:i:c:p:65-68

DOI: 10.1016/j.econlet.2015.07.009

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