Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/106539 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 8599
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
In this paper we investigate Oswald's hypothesis according to which higher homeownership rates increase aggregate unemployment rates. To this end, we develop a matching model à la Pissarides (2000) in which homeowners are assumed to be less mobile than tenants. Based on numerical simulations, we analyze both macroeconomic and microeconomic labour market outcomes following an (exogenous) increase in homeownership rates. We show that (1) Oswald's hypothesis does not always hold as it depends crucially on the importance of mobility costs; (2) while higher homeownership may harm macroeconomic labour market performances, individual performances always improve following an increase in homeownership rates.
Schlagwörter: 
stochastic job matching
Oswald's hypothesis
homeownership
unemployment
mobility
JEL: 
J41
J61
J64
E24
Dokumentart: 
Working Paper

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