Beugnot, Julie; Lacroix, Guy; Charlot, Olivier - Institute for the Study of Labor (IZA) - 2014
In this paper we investigate Oswald's hypothesis according to which higher homeownership rates increase aggregate … following an (exogenous) increase in homeownership rates. We show that (1) Oswald's hypothesis does not always hold as it … depends crucially on the importance of mobility costs; (2) while higher homeownership may harm macroeconomic labour market …