Do homeowners cope better with economic crises in terms of employment? An analysis of micro panel data from Spain, 2004–2013

García, Javier Amós Barrios

doi:10.1080/02673037.2016.1224324

Housing Studies

2016

DOI: 10.1080/02673037.2016.1224324

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Do homeowners cope better with economic crises in terms of employment? An analysis of micro panel data from Spain, 2004–2013

Javier Amós Barrios García

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Cited by 2 publications

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Homeownership, Labour Market Transitions and Earnings

Brunet,

Kamionka,

Lacroix

2024

Applied Economics

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The paper investigates the links between homeownership, employment and earnings for which no consensus exists in the literature. Our analysis is cast within a dynamic setting and the endogeneity of each outcome is assessed through the estimation of a flexible panel multivariate model with random effects. The data we use are drawn from the French sample of the EU Survey on Income and Living Conditions for the years 2004-2013. The error terms are both correlated across equations and autocorrelated. Individual random effects are also correlated across equations. The model is estimated using a simulated maximum likelihood estimator and particular care is given to the initial conditions problem. Our results show that while homeowners have longer employment and unemployment spells, they must contend with lower earnings than tenants upon reemployment. They also stress the importance of unobserved heterogeneity in explaining the transitions on the labour and housing markets, and the relationship between earnings and the latter two. Failure to properly account for this is likely to yield biased parameter estimates.

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Homeownership, Labour Market Transitions and Earnings

Brunet,

Kamionka,

Lacroix

2024

Applied Economics

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Homeownership and job-match quality in France

Brunet

Havet

2019

Housing Studies

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Our empirical study stems from previous research on the inter-relations between residential status and microeconomic labour market outcomes. It focuses on employees and assesses the a priori ambiguous effect of homeownership on job-match quality. We use the French data set of the 1995-2001 European Community Household Panel to build a subjective measure of job downgrading. We estimate a recursive trivariate probit with partial observability that simultaneously models the residential status choice, its impact on the probability of being downgraded, and the selection into employment. The comparison with simpler models indicates that taking into account the selection into employment and controlling unobservable individual heterogeneity are of prime necessity to obtain robust conclusions.

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Do homeowners cope better with economic crises in terms of employment? An analysis of micro panel data from Spain, 2004–2013

Cited by 2 publications

References 33 publications

Homeownership, Labour Market Transitions and Earnings

Homeownership, Labour Market Transitions and Earnings

Homeownership and job-match quality in France

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