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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
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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: | |
| 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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