Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/91539
Authors: 
Bottazzi, Renata
Crossley, Thomas
Wakefield, Matthew
Year of Publication: 
2012
Series/Report no.: 
IFS Working Papers W12/10
Abstract: 
England has very volatile house prices. Using survey data spanning multiple house-price cycles over nearly forty years, we document the association between house prices and homeownership at age thirty. We then use synthetic cohort methods to assess whether differences in early ownership rates persist in later life. We find that ownership rates at age thirty have varied substantially, with a significant negative association with prices. Measurement error problems - attenuation and other biases - complicate an analysis of the persistence of these differences in ownership. We use two methods to deal with this. Both indicate that cohorts with low ownership rates at age thirty close about 80% of the ownership gap by age forty.
Subjects: 
homeownership
synthetic cohort data
measurement error
JEL: 
R21
R31
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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