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dc.contributor.authorDiaz-Serrano, Luisen
dc.date.accessioned2009-01-28T16:12:40Z-
dc.date.available2009-01-28T16:12:40Z-
dc.date.issued2004-
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 homeownership in Germany and Spain. This study is motivated by two facts. Firstly, theoreticalmodels provide ambiguous results in this issue. Secondly, there is limited previous empiricalevidence and the existing focuses exclusively on the US housing market. We claim that moreinternational evidence is necessary. To carry out this test we propose an income uncertaintymeasure based on panel data labour income equations. We observe that households facingincreasing income uncertainty display preference for renting while those receiving positivetransitory shocks in earnings tend to allocate them in property housing consumption. We alsointroduce the concept of ?skewness affection? as a relevant phenomenon in the housingtenure decisions. Income uncertainty analysis in housing decisions has important implicationsin the design of housing public policies and also in the design of mortgage insuranceproducts.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x1008en
dc.subject.jelD1en
dc.subject.jelJ0en
dc.subject.jelR0en
dc.subject.ddc330en
dc.subject.keywordrisk aversionen
dc.subject.keywordskewness affectionen
dc.subject.keywordhome ownershipen
dc.subject.keywordlabour income uncertaintyen
dc.subject.keywordincome shocksen
dc.subject.stwLohnen
dc.subject.stwRisikoen
dc.subject.stwWohneigentumen
dc.subject.stwRisikoaversionen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.subject.stwSpanienen
dc.titleLabour Income Uncertainty, Risk Aversion and Home Ownership-
dc.typeWorking Paperen
dc.identifier.ppn378733788en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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