Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/103826
Authors: 
Jansson, Thomas
Year of Publication: 
2013
Series/Report no.: 
Sveriges Riksbank Working Paper Series 272
Abstract: 
I show that individuals whose unemployment risk tends to increase more when local home prices fall optimally invest less in owner-occupied housing. Using a unique, Swedish register-based database, I …find that a one standard deviation increase in the covariance between individually estimated unemployment risks and local home prices implies an average increase in the value of households’ investments in owner-occupied housing of USD 13,300. Further, I …find, in line with the predictions of my theoretical model, that same-industry couples rent more often, but, conditional on ownership, invest USD 9,200 more on average in single-family homes than di¤erent-industry couples.
Subjects: 
homeownership
housing demand
unemployment
house price risk
JEL: 
D12
D14
R21
Document Type: 
Working Paper

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