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Explaining Life-Cycle Profiles of Home-Ownership and Labour Supply

IFS,Renata Bottazzi, Institute for Fiscal Studies,Hamish Low, University of Cambrdige, Renata Bottazzi (), Orazio Attanasio (), Hamish Low, Lars Nesheim and Matthew Wakefield
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Renata Bottazzi: -- Institute for Fiscal Studies
Hamish Low: University of Cambrdige and IFS

Authors registered in the RePEc Author Service: Hamish Low () and Renata Bottazzi

No 511, Computing in Economics and Finance 2006 from Society for Computational Economics

Abstract: In this paper we show the extent that home ownership varies over the life-cycle and differs by cohort and by education. We explain these differences in a calibrated model of life-cycle behaviour where households choose labour supply and consumption and also home-ownership status. Home-ownership is associated with greater labour supply both in the model and in the data. We use the model to show the effect that alternative assumptions on capital market imperfections make to home-ownership and to labour supply. Increases in downpayment requirements lead to delays in home ownership. Decreases in the permitted debt to income ratio lead to less home-ownership across the life-cycle

JEL-codes: D91 J22 (search for similar items in EconPapers)
Date: 2006-07-04
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