Does Homeownership Prolong the Duration of Unemployment?

Taskin A, Firat Y (2019)


Publication Type: Journal article, Original article

Publication year: 2019

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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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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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