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Credit Market Constraints and Labor Market Decisions

Daniela Del Boca () and Annamaria Lusardi ()

No 598, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: In this paper, we examine whether imperfections in credit markets spill over to other markets, particularly the labor market. We take the case of Italy, a country that experienced changes in the mortgage market brought about by the 1992 European unification and other institutional shifts. These events make Italy a good laboratory to study the effects of financial markets on the labor market. Using a simultaneous equation framework and household data from the Bank of Italy between 1989 and 1993, we estimate the relationship between female participation and mortgage use. We find a significant impact of mortgages on women’s participation in the labor market.

Keywords: female labor market participation; mortgage market (search for similar items in EconPapers)
JEL-codes: J2 D91 (search for similar items in EconPapers)
Date: 2002-10
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Published in: Labour Economics, 2003, 10 (5), 681-703

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