Emancipation under the great recession in Spain
Namkee Ahn () and
Virginia Sanchez-Marcos ()
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Namkee Ahn: Universidad de Cantabria
Review of Economics of the Household, 2017, vol. 15, issue 2, 477-495
Abstract In this paper we document the behavior of emancipation over one of the biggest boom–bust cycles experienced by the Spanish economy. In principle, the economic difficulties faced by the Spanish youth during the last recession would have hampered a normal emancipation pace. However, we find that the proportion living away from parents among those aged 18–40 has not decreased but increased from 44 % during the boom (2005–2008) to 46 % during the bust (2009–2013). A simple decomposition reveals that this is mainly driven by the substantial rise in the emancipation rate among the full-time employed workers during the bust. To explain this change we discuss several factors such as macroeconomic conditions, rental subsidy policy, higher labor mobility, selection bias, reverse causation, time-lag in adjustment and secular trend.
Keywords: Emancipation; Great recession; Labor market; Rental subsidy; Housing markets (search for similar items in EconPapers)
JEL-codes: J12 H31 R21 (search for similar items in EconPapers)
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