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How much has house lock affected labor mobility and the unemployment rate?

Daniel Aaronson and Jonathan Davis ()

Chicago Fed Letter, 2011, issue Sep, No 290

Abstract: This article explores new evidence from the U.S. Census Bureau?s Survey of Income and Program Participation (SIPP) on the extent to which ?house lock?--the reluctance of households to sell their homes in a declining house price environment--has contributed to the elevated unemployment rate since 2008.

Keywords: Unemployment; Labor policy (search for similar items in EconPapers)
Date: 2011
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