{"title":"Labour supply and the cost of house price booms and busts","authors":"Hamish Low , Virginia Sánchez-Marcos","doi":"10.1016/j.labeco.2024.102591","DOIUrl":null,"url":null,"abstract":"<div><p>Fluctuations in house prices generate substantial heterogeneity in the price of purchase of similar dwellings depending on the time of purchase. These differences in the price of purchase have large effects on income-net-of-housing-costs. We document these effects using the large house price fluctuations during the recent housing boom-bust in Spain. Households can mitigate these impacts through changing labour supply. Men work more subsequent to paying higher house prices at purchase , whereas the correlation of house prices and labour supply for women is driven by selection: households where women work more, buy more expensive houses.</p></div>","PeriodicalId":48153,"journal":{"name":"Labour Economics","volume":"90 ","pages":"Article 102591"},"PeriodicalIF":2.2000,"publicationDate":"2024-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0927537124000861/pdfft?md5=e5ef8422199fd16d58e1891cb55138d2&pid=1-s2.0-S0927537124000861-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Labour Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0927537124000861","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Fluctuations in house prices generate substantial heterogeneity in the price of purchase of similar dwellings depending on the time of purchase. These differences in the price of purchase have large effects on income-net-of-housing-costs. We document these effects using the large house price fluctuations during the recent housing boom-bust in Spain. Households can mitigate these impacts through changing labour supply. Men work more subsequent to paying higher house prices at purchase , whereas the correlation of house prices and labour supply for women is driven by selection: households where women work more, buy more expensive houses.
期刊介绍：
Labour Economics is devoted to publishing research in the field of labour economics both on the microeconomic and on the macroeconomic level, in a balanced mix of theory, empirical testing and policy applications. It gives due recognition to analysis and explanation of institutional arrangements of national labour markets and the impact of these institutions on labour market outcomes.
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