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来源类型 | ENEPRI Working Papers |
规范类型 | 论文 |
Compensation of Regional Unemployment in Housing Markets | |
Wouter Vermeulen; Jos van Ommeren | |
发表日期 | 2006-04-24 |
出版年 | 2006 |
语种 | 英语 |
摘要 | Why are regional unemployment differentials in Europe so persistent if, as the wage curve literature demonstrates, there is no compensation in labour markets? We hypothesise that workers in high-unemployment regions are compensated in housing markets. Modelling regional unemployment differentials as a consequence of centralised 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. Workers in regions with high unemployment and low per capita income are therefore not necessarily worse off, and regional support programs should take this into account. |
主题 | Rights and Security |
URL | https://www.ceps.eu/publications/compensation-regional-unemployment-housing-markets |
来源智库 | Centre for European Policy Studies (Belgium) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/62973 |
推荐引用方式 GB/T 7714 | Wouter Vermeulen,Jos van Ommeren. Compensation of Regional Unemployment in Housing Markets. 2006. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
1325.pdf(401KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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