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2012
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Mots-clés
unemployment duration ; JEL classification C41 - J64 - R21 ; Oswald’s hypothesis ; housing tenure Classification JEL C41 - J64 - R21 ; hypothèse d’Oswald ; durée de chômage ; statut résidentielSujets proches
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Carole Brunet et al., « La propriété immobilière est-elle un obstacle pour sortir du chômage ? », Économie & prévision, ID : 10.3406/ecop.2012.8112
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Résumé
Does Homeownership Hinder Exits from Unemployment ? This study uses microeconomic data to test “ Oswald’s hypothesis”, which postulates a link between rising homeownership rates and longer unemployment spells. We contribute to the existing literature by contrasting econometric results for France and the United States, whose labour and housing markets function and interact in very different ways. Using unemployment-spell samples from the French part of the European Community Household Panel and the Panel Study of Income Dynamics, both covering 1994-2001, we estimate mixed proportional hazard models incorporating simultaneous behaviours in the housing and labour markets. Ourmain results indicate that homeownership is not significantly related to longer unemployment spells in the United States, while French homeowners exhibit faster re-employment rates than renters.