Are households more likely to be homeowners when “housing risk” is higher? We show that home‐ownership rates and loan‐to‐value (LTV) ratios at the city level are strongly negatively correlated with local house price volatility. However, causal inference is confounded by house price...

Are households more likely to be homeowners when “housing risk” is higher? We show that home-ownership rates and loan-to-value (LTV) ratios at the city level are strongly negatively correlated with local house price volatility. However, causal inference is confounded by house price levels,...

The skill gap in geographical mobility is entirely driven by workers who report moving for a new job. A natural explanation lies in the large expected surplus accruing to skilled job matches. Just as large surpluses ease the frictions which impede job search in general, they also help overcome...

The skill gap in geographical mobility is entirely driven by workers who report moving for a new job. A natural explanation lies in the large expected surplus accruing to skilled job matches. Just as large surpluses ease the frictions which impede job search in general, they also help overcome...

Are households more likely to be homeowners when “housing risk” is higher? We show that homeownership rates and loan-to-value (LTV) ratios at the city level are strongly negatively correlated with house price levels and the variance of house price growth rates in the city. But both price...

Are households more likely to be homeowners when �housing risk� is higher? We show that homeownership rates and loan-to-value (LTV) ratios at the city level are strongly negatively correlated with local house price volatility. However, causal inference is confounded by house price levels,...

This working paper describes how the IFS’s model of the UK’s long-run public finances (and those of its constituent nations) is constructed. Our model projects tax revenues, public spending and hence public borrowing and debt up to 2062–63. This is done for the UK as a whole...

In the UK the gender pay gap on entry to the labour market is approximately zero but after ten years after labour market entry, there is a gender wage gap of almost 25 log points. This paper explores the reason for this gender gap in early-career wage growth, considering three main hypotheses -...

This paper shows, using data from both the US and the UK, that average plant size is larger in denser markets. However, many popular theories of agglomeration - spillovers, cost advantages and improved match quality - predict that establishments should be smaller in cities. The paper proposes a...