Compensation Of Regional Unemployment In Housing Markets
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Author | : Jos van Ommeren |
Publisher | : CEPS |
Total Pages | : 26 |
Release | : 2005 |
Genre | : Housing |
ISBN | : 9290796340 |
Why are regional unemployment differentials in Europe so persistent if, as the wage curve literature demonstrates, there is no compensation in labour markets? We hypothesize that workers in high-unemployment regions are compensated in housing markets. Modelling regional unemployment differentials as a consequence of centralized wage bargaining, we show that clearing of land markets may undo the incentive for workers to migrate to low-unemployment regions in general equilibrium. The compensating differentials hypothesis is tested on city-level data for several countries. Controlling for variation in income and amenities, housing is found to be about 3 percent less expensive on average in cities where unemployment is 10 percent up. An analysis of housing demand survey data, which takes account of housing heterogeneity, yields a similar negative relationship. The magnitude of the income effect generated by this compensating differential is consistent with a -0.10 wage curve elasticity. These findings weaken the case for regional support programs.
Author | : Wouter Vermeulen |
Publisher | : |
Total Pages | : 0 |
Release | : 2005 |
Genre | : |
ISBN | : |
Author | : Wouter Vermeulen |
Publisher | : |
Total Pages | : 44 |
Release | : 2006 |
Genre | : Housing |
ISBN | : |
Author | : Wouter Vermeulen |
Publisher | : Rozenberg Publishers |
Total Pages | : 208 |
Release | : 2003 |
Genre | : Velocardiofacial syndrome |
ISBN | : 9051707738 |
Author | : Gavin Cameron |
Publisher | : |
Total Pages | : 48 |
Release | : 2000 |
Genre | : Great Britain |
ISBN | : |
Author | : United States. Congress. House. Committee on Ways and Means. Subcommittee on Public Assistance and Unemployment Compensation |
Publisher | : |
Total Pages | : 304 |
Release | : 1978 |
Genre | : Unemployment insurance |
ISBN | : |
Author | : United States. Congress. House. Committee on Ways and Means. Subcommittee on Public Assistance and Unemployment Compensation |
Publisher | : |
Total Pages | : 312 |
Release | : 1978 |
Genre | : Government publications |
ISBN | : |
Author | : Sara Davies |
Publisher | : |
Total Pages | : 108 |
Release | : 2001 |
Genre | : European Economic Community countries |
ISBN | : |
Recoge: 1.Summary of results - 2.Eastern Germany - 3.the Spanish objective 1 regions - 4.Southern Italy.
Author | : United States. Congress. House. Committee on Ways and Means. Subcommittee on Unemployment Compensation |
Publisher | : |
Total Pages | : 650 |
Release | : 1975 |
Genre | : Insurance, Unemployment |
ISBN | : |
Author | : Peter J. Brady |
Publisher | : |
Total Pages | : 342 |
Release | : 1996 |
Genre | : Housing |
ISBN | : |