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Diaz-Serrano, Mr. Luis (2005) On the Negative Relationship between Labour Income Uncertainty and Homeownership:Risk aversion vs Credit Constraints. UNSPECIFIED. (Unpublished)
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Abstract
In this paper we test for the first time whether the driving force behind the negative effect of income uncertainty on owner-occupancy propensities is risk aversion or credit constraints. To desentangle this puzzle we estimate reduced form equations using Italian data. Consistent with the previous empirical evidence in the US. our results cofirm that in Italy both labor income uncertainty and credit constraints exert a significant negative effect on the probability of homeownership. However, our main findings indicate that the negative relationship between labor income uncertainty and homeownership is driven by households' risk aversion.
| Item Type: | Other |
|---|---|
| Additional Information: | JEL Classification: D1, Ro, Jo N146/01/05 Dept. Of Economics Working Paper series |
| Keywords: | Homeownership, income uncertainty, credit constraints, Risk aversion |
| Academic Unit: | Faculty of Social Sciences > Economics, Finance and Accounting |
| Item ID: | 194 |
| Depositing User: | Ms Sandra Doherty |
| Date Deposited: | 31 Jan 2005 |
| Refereed: | No |
| URI: | https://mural.maynoothuniversity.ie/id/eprint/194 |
| Use Licence: | This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here |
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