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Title: Home Ownership As a Labor Market Friction
Resulting in 1 citation.
1. Ringo, Daniel
Home Ownership As a Labor Market Friction
Working Paper, Social Science Research Network (SSRN), March 17, 2017.
Also: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3144673
Cohort(s): NLSY79
Publisher: Social Science Electronic Publishing, Inc.
Keyword(s): Geocoded Data; Home Ownership; Mobility; Parental Influences; Unemployment Duration; Unemployment Rate, Regional

Permission to reprint the abstract has not been received from the publisher.

This paper estimates the effect of home ownership on individuals' unemployment. Because of higher moving costs, home owners will be less willing than renters to relocate for work and could therefore face longer unemployment spells. Estimation is complicated by the endogeneity of ownership, as owners will have different abilities, preferences and job prospects than renters. I instrument for home ownership using a preference shifter from the worker's childhood environment. The results indicate that home ownership is a significant hindrance to mobility, and homeowners suffer longer unemployment spells and more frequent job loss because of it.
Bibliography Citation
Ringo, Daniel. "Home Ownership As a Labor Market Friction." Working Paper, Social Science Research Network (SSRN), March 17, 2017.