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dc.contributor.authorDiaz-Serrano, Luisen_US
dc.date.accessioned2009-01-28T16:12:40Z-
dc.date.available2009-01-28T16:12:40Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/20243-
dc.description.abstractIn this paper we investigate the effect of labour income uncertainty on the probability of home ownership in Germany and Spain. This study is motivated by two facts. Firstly, theoretical models provide ambiguous results in this issue. Secondly, there is limited previous empirical evidence and the existing focuses exclusively on the US housing market. We claim that more international evidence is necessary. To carry out this test we propose an income uncertainty measure based on panel data labour income equations. We observe that households facing increasing income uncertainty display preference for renting while those receiving positive transitory shocks in earnings tend to allocate them in property housing consumption. We also introduce the concept of ?skewness affection? as a relevant phenomenon in the housing tenure decisions. Income uncertainty analysis in housing decisions has important implications in the design of housing public policies and also in the design of mortgage insurance products.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesIZA Discussion paper series 1008en_US
dc.subject.jelD1en_US
dc.subject.jelJ0en_US
dc.subject.jelR0en_US
dc.subject.ddc330en_US
dc.subject.keywordrisk aversionen_US
dc.subject.keywordskewness affectionen_US
dc.subject.keywordhome ownershipen_US
dc.subject.keywordlabour income uncertaintyen_US
dc.subject.keywordincome shocksen_US
dc.subject.stwLohnen_US
dc.subject.stwRisikoen_US
dc.subject.stwWohneigentumen_US
dc.subject.stwRisikoaversionen_US
dc.subject.stwSch├Ątzungen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwSpanienen_US
dc.titleLabour Income Uncertainty, Risk Aversion and Home Ownershipen_US
dc.typeWorking Paperen_US
dc.identifier.ppn378733788en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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