Homeownership rates and holdings of housing wealth differ immensely across countries. We specify and estimate a life cycle model with risky labor income and house prices in which households face a discrete–continuous choice between renting and owning a house, whose sale is subject to...

The service sector has consistently expanded within the global economy and has become a significant component of national economies. Advancements in the service sectors of national economies have generated new service-related jobs and professions, which have become a primary source of...