This paper investigates the impact of Negative Home Equity (NHE) on job mobility, making use of a Dutch administrative panel dataset for the period 2006-2011. Self-selection into NHE is controlled for by considering homeowners who fall into NHE because of an exogenous price decline of their house, and comparing them to homeowners with positive equity. Results show that if a household plunges into NHE, the head of the household is 5.2% less likely to switch jobs.
Negative Home Equity and Job Mobility
Morescalchi, Andrea;
2019-01-01
Abstract
This paper investigates the impact of Negative Home Equity (NHE) on job mobility, making use of a Dutch administrative panel dataset for the period 2006-2011. Self-selection into NHE is controlled for by considering homeowners who fall into NHE because of an exogenous price decline of their house, and comparing them to homeowners with positive equity. Results show that if a household plunges into NHE, the head of the household is 5.2% less likely to switch jobs.File in questo prodotto:
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