NDLI: Does Promoting Homeownership Always Damage Labour Market Performances?

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Does Promoting Homeownership Always Damage Labour Market Performances?

Content Provider	Scilit
Author	Beugnot, Julie Charlot, Olivier Lacroix, Guy
Copyright Year	2018
Description	Journal: SSRN Electronic Journal In this paper we analyse the link between homeownership and various aggregate and individuallabour market outcomes. Our aim is to investigate the likely consequences of public policies thatpromote homeownership. To this end, we develop a circular firm-worker matching model withNash-bargained wage setting and free market entry. Homeowners are assumed to be less mobilethan tenants and to bear higher mobility costs. Our numerical exercises show that tenants usuallyhave lower unemployment rates and lower wage rates than homeowners. Importantly, workersʼperformances do not necessarily improve following an increase in the proportion of homeowners.The latter crucially depends on the relative utility enjoyed by homeowners and tenants whenunemployed. In the aggregate, nevertheless, we find that the unemployment rate generallyincreases following an increase in the proportion of homeowners. Yet, the link between the twocan be reversed if the homeownersʼ utility is lower than that of tenants when unemployed. Ourmodel thus identifies a number of conditions under which Oswaldʼs conjecture is likely to hold ornot. Thus, our results do not necessarily support the view that policies fostering homeownershipare adequate public policies given their potentially negative effect on the labour market.
Related Links	https://crese.univ-fcomte.fr/uploads/wp/WP-2017-05.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3214659
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3214659
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2018-07-01
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Environmental Studies Stochastic Job Matching
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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