AMERICAN DREAM DELAYED: SHIFTING DETERMINANTS OF HOMEOWNERSHIP

被引：5
作者：
Khorunzhina, Natalia
Miller, Robert A. [1 ]
机构：
[1] Carnegie Mellon Univ, 5000 Forbes Ave, Pittsburgh, PA 15213 USA
来源：
INTERNATIONAL ECONOMIC REVIEW | 2022年 / 63卷 / 01期
关键词：
DISCRETE-CHOICE MODELS; LABOR-FORCE; HOME OWNERSHIP; DYNAMIC-MODEL; HOUSE PRICES; LIFE-CYCLE; DECISION; WORK; COMPENSATION; FERTILITY;
D O I：
10.1111/iere.12557
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We develop and estimate a dynamic model of female labor supply, fertility, and transition from renting to first homeownership with panel data, to investigate declining U.S. homeownership over the past decades. Higher house prices and increased female wage rates (that is the opportunity cost of leisure) cause households to postpone their first-home purchase, because leisure and fertility are complementary to homeownership. Education and female workforce participation are reinforcing factors that raise the value of owning a home. Our estimates show the effects of rising house prices and wage rates more than offset the effects of greater education and workforce participation.
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页码：3 / 35
页数：33
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