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Job Security and Housing Credits

Kurmaş Akdoğan, Ayse Tatar and Ayse Arzu Yavuz

Working Papers from Research and Monetary Policy Department, Central Bank of the Republic of Turkey

Abstract: This paper is concerned with the relationship between employment security and housing credits. It is argued that higher employment protection might result in higher demand for housing due to its mitigating impact on the uncertainty about the future income stream of the workers. The results of the empirical analysis using yearly data for 23 countries from 1990 to 2013 suggest a positive relationship between job security and housing credits at the aggregate level. This evidence emphasizes potential negative effects of reducing job protection on aggregate demand. Moreover, considering the propagation mechanism linked with housing demand, this negative impact could be higher and longer than expected.

Keywords: Labour markets; Job security; Credit demand; Panel data (search for similar items in EconPapers)
JEL-codes: C23 J28 J65 R21 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:tcb:wpaper:1620

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