Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/20243
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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 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_US
dc.language.isoengen_US
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen_US
dc.relation.ispartofseries|aIZA Discussion paper series |x1008en_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.stwSchätzungen_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-

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