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Home-ownership and the Labour Market: Evidence from Rental Housing Market Deregulation

Jani-Petri Laamanen ()

Labour Economics, 2017, vol. 48, issue C, 157-167

Abstract: Perhaps the most common finding relating housing to the labour market is that high home-ownership rates are associated with higher unemployment. In contrast, recent micro-evidence suggests that home-owners have relatively favourable labour market outcomes. We explore the effect of home-ownership on unemployment exploiting a rental housing market deregulation reform which created exogenous variation in home-ownership across regions, allowing us to avoid the endogeneity problem in earlier studies. While home-owners are less likely to experience unemployment, an increase in the home-ownership rate causes unemployment to rise. Externalities arising from consumption reductions and increased job competition may explain the conflicting evidence.

Keywords: Home-ownership; Unemployment; Instrumental variables (IV) estimation (search for similar items in EconPapers)
JEL-codes: J64 R31 C26 (search for similar items in EconPapers)
Date: 2017
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Related works:
Working Paper: Home-ownership and the Labour Market: Evidence from Rental Housing Market Deregulation (2013) Downloads
Working Paper: Home-ownership and the Labour Market: Evidence from Rental Housing Market Deregulation (2013) Downloads
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