Does Homeownership Prolong the Duration of Unemployment?
Taskin A, Firat Y (2019)
Publication Type: Journal article, Original article
Publication year: 2019
Journal
Abstract
We examine the effects of homeownership on individuals' unemployment durations. An unemployment spell can terminate with a job or with nonparticipation. The endogeneity of homeownership is addressed by estimating a full maximum likelihood function jointly modeling the competing hazards and the probability of being a homeowner. Unobserved factors contributing to the probability of being a homeowner are allowed to be correlated with unobservable heterogeneity in the hazard rates. Not controlling for ownership selection, there is neither a significant difference in the job-finding hazard nor in the nonparticipation hazard of unemployed owners and renters. If we jointly model the ownership selection, we find that unemployed homeowners are more likely to find a job than renters.
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United Kingdom (GB)How to cite
APA:
Taskin, A., & Firat, Y. (2019). Does Homeownership Prolong the Duration of Unemployment? Real Estate Economics.
MLA:
Taskin, Ahmet, and Yaman Firat. "Does Homeownership Prolong the Duration of Unemployment?" Real Estate Economics (2019).
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