Are Home Owners Really More Unemployed?

This paper investigates the effects of home-ownership on labour mobility and unemployment duration. We distinguish between finding employment locally or by being geographically mobile. We find that home ownership hampers the propensity to move for job reasons but improves the chances of finding local jobs, which is in accordance with the predictions from our theoretical model. The overall hazard rate into employment is higher for home owners, such that there is a negative correlation between home-ownership and unemployment duration. Our empirical findings thus lend some support for the main mechanism behind the so-called Oswald hypothesis, even if it does not find positive correlation between unemployment duration and home ownership at the individual level.

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Year of publication:	2003
Authors:	Munch, Jakob Roland ; Rosholm, Michael ; Svarer, Michael
Publisher:	Bonn : Institute for the Study of Labor (IZA)
Subject:	Grundbesitz \| Arbeitsmobilität \| Arbeitslosigkeit \| Dauer \| Schätzung \| Dänemark \| home ownership \| labour mobility \| unemployment duration

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Series:	IZA Discussion Papers ; 872
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	370515463 [GVK] hdl:10419/20119 [Handle]
Classification:	R23 - Regional Migration; Regional Labor Markets; Population ; J64 - Unemployment: Models, Duration, Incidence, and Job Search ; J61 - Geographic Labor Mobility; Immigrant Workers ; C41 - Duration Analysis
Source:	EconStor