Job Search and Housing Under Credit Constraints

Silvio Rendon and Núria Quella

No 1137, 2011 Meeting Papers from Society for Economic Dynamics

Abstract: In order to understand the relationship between homeownership and unemployment the we extend the model in Rendon (2006) that studies the relation between asset accumulation and job search to include the link between homeownership and asset accumulation. We establish the connection between homeownership and reservation wages and analyze the role of labor market dynamics on homeownership, and viceversa, the effect of financing costs and housing price fluctuations on employment and housing tenure choices. The model is structurally estimated using NLSY and housing price data.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed011:1137

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