Housing Tenure, Geographical Mobility and the Labour Market: the Role of the Employment Exit Rate
No Ikerlanak;2018-110, IKERLANAK from Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I
This paper studies the effect of home-owners' migration costs on unemployment in an economy where workers move both for work- and non-work-related reasons. To this end, a search model with heterogeneous locations is developed and calibrated to the US economy. Both the employment and unemployment exit rates are endogenous. Migration costs imply that home-owners quit their jobs less often than renters and find jobs at a higher rate. Consistent with the empirical evidence, the model predicts that home-owners have a lower unemployment rate than renters.
Keywords: unemployment; labour; mobility; home; ownership (search for similar items in EconPapers)
JEL-codes: J61 J64 R23 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge, nep-lab, nep-mig and nep-ure
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Dpto. de Fundamentos del Análisis Económico I, Facultad de CC. Económicas y Empresariales, Universidad del País Vasco, Avda. Lehendakari Aguirre 83, 48015 Bilbao, Spain
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