MURAL - Maynooth University Research Archive Library



    Labor income uncertainty, skewness and homeownership: A panel data study for Germany and Spain


    Diaz-Serrano, Luis (2005) Labor income uncertainty, skewness and homeownership: A panel data study for Germany and Spain. Journal of Urban Economics, 58 (1). pp. 156-176. ISSN 0094-1190

    [thumbnail of 1-s2.0-S009411900500015X-main.pdf]
    Preview
    Text
    1-s2.0-S009411900500015X-main.pdf
    Available under License Creative Commons Attribution Non-commercial Share Alike.

    Download (146kB) | Preview

    Abstract

    In this paper we empirically investigate the effect of labor income uncertainty on the probability of homeownership in Germany and Spain. This study is motivated by two facts. Firstly, theoretical models tend to provide ambiguous results on this issue. Secondly, previous empirical evidence focuses exclusively on the US housing market. To carry out our analysis we propose more precise income uncertainty measures based on panel data labor income equations. We observe that households facing high levels of income uncertainty display a preference for renting, while those located in more positively skewed income distributions show a greater propensity for homeownership.
    Item Type: Article
    Keywords: Homeownership; Income uncertainty; Income skewness; Transitory income; Permanent income; Credit constraints; Risk aversion;
    Academic Unit: Faculty of Social Sciences > Economics, Finance and Accounting
    Item ID: 20633
    Identification Number: 10.1016/j.jue.2005.03.003
    Depositing User: IR Editor
    Date Deposited: 30 Sep 2025 10:56
    Journal or Publication Title: Journal of Urban Economics
    Publisher: Elsevier
    Refereed: Yes
    Related URLs:
    URI: https://mural.maynoothuniversity.ie/id/eprint/20633
    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

    Repository Staff Only (login required)

    Item control page
    Item control page

    Downloads

    Downloads per month over past year

    Origin of downloads