Leaving home and housing prices. The experience of Italian youth emancipation
Francesca Modena () and
Concetta Rondinelli ()
No 1101, Department of Economics Working Papers from Department of Economics, University of Trento, Italia
This paper provides an explanation for the postponement of the youth emancipa- tion in the Italian context mainly characterized by a sharp increase in both house and rent prices together with a stagnant disposable income over the last decade. We first assemble a unique database related to the housing and rental market value which is then matched with household characteristics. We find a significant effect of the real estate market: the probability of moving out decreases by about 0.45% and 1.18% for males and females respectively for a one-standard-deviation increase in house prices. Together with property prices, local labour markets play a prominent role in determin- ing unemployed youth decisions to postpone the transition. The youngest cohort was mainly affected by the real estate market evolution occurred in the last decade
Keywords: coresidence; moving out; real estate market; discrete time duration model (search for similar items in EconPapers)
JEL-codes: C41 D1 J12 R2 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mig, nep-soc and nep-ure
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Working Paper: Leaving home and housing prices. The experience of Italian youth emancipation (2011)
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