House Prices, Wealth Effects and Labour Supply

被引：37

作者：

Disney, Richard ^{[1
]}

Gathergood, John ^{[2
]}

机构：

[1] UCL, Inst Fiscal Studies, London, England

[2] Univ Nottingham, Nottingham, England

来源：

ECONOMICA | 2018年 / 85卷 / 339期

关键词：

LIQUIDITY CONSTRAINTS; CONSUMPTION; EQUITY; HOME; US;

D O I：

10.1111/ecca.12253

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We examine the impact of house prices on labour supply decisions using UK microdata. We combine household survey data with local-level house price measures and controls for local labour demand. Our microdata also allow us to control for individual level income expectations. We find significant house price effects on labour supply, consistent with leisure being a normal good. Labour supply responses to house prices are concentrated among young married female owners and older owners. This finding suggests that house prices affect the decisions of marginal workers in the economy. Our estimates imply that house prices are economically important in the participation decisions for these workers.

引用

页码：449 / 478

页数：30

共 32 条

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Atalay K., 2016, HOUSING WEALTH UNPUB

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