Richard Disney
House prices, wealth effects and labour supply
Disney, Richard; Gathergood, John
Abstract
We examine the impact of house prices on labour supply decisions using UK micro data. We combine household survey data with local level house price measures and controls for local labour demand. Our micro data also allows us to control for individual level income expectations. We find significant house price effects on labour supply, consistent with leisure being a normal good. Labour supply responses to house prices are concentrated among young married female owners and older owners. This finding suggests house prices affect the decisions of marginal workers in the economy. Our estimates imply house prices are economically important for the participation decisions for these workers.
Citation
Disney, R., & Gathergood, J. (2018). House prices, wealth effects and labour supply. Economica, 85(339), 449-478. https://doi.org/10.1111/ecca.12253
Journal Article Type | Article |
---|---|
Acceptance Date | Jun 22, 2017 |
Online Publication Date | Nov 1, 2017 |
Publication Date | Jun 7, 2018 |
Deposit Date | Jul 3, 2017 |
Publicly Available Date | Nov 2, 2019 |
Journal | Economica |
Print ISSN | 0013-0427 |
Electronic ISSN | 1468-0335 |
Publisher | Wiley |
Peer Reviewed | Peer Reviewed |
Volume | 85 |
Issue | 339 |
Pages | 449-478 |
DOI | https://doi.org/10.1111/ecca.12253 |
Keywords | Labour supply; Wealth effects; House prices |
Public URL | https://nottingham-repository.worktribe.com/output/936610 |
Publisher URL | http://onlinelibrary.wiley.com/doi/10.1111/ecca.12253/abstract |
Additional Information | This is the peer reviewed version of the following article: Disney, R. and Gathergood, J. (2017), House Prices, Wealth Effects and Labour Supply. Economica. doi:10.1111/ecca.12253, which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/ecca.12253/abstract. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving." |
Contract Date | Jul 3, 2017 |
Files
economica_R2_final.pdf
(607 Kb)
PDF
You might also like
Self-control, financial literacy & the co-holding puzzle
(2014)
Journal Article
Credit counseling: a substitute for consumer financial literacy?
(2015)
Journal Article
Do wealth shocks affect health? New evidence from the housing boom
(2016)
Journal Article
Financial literacy: a barrier to home ownership for the young?
(2017)
Journal Article
Financial literacy, present bias and alternative mortgage products
(2017)
Journal Article
Downloadable Citations
About Repository@Nottingham
Administrator e-mail: discovery-access-systems@nottingham.ac.uk
This application uses the following open-source libraries:
SheetJS Community Edition
Apache License Version 2.0 (http://www.apache.org/licenses/)
PDF.js
Apache License Version 2.0 (http://www.apache.org/licenses/)
Font Awesome
SIL OFL 1.1 (http://scripts.sil.org/OFL)
MIT License (http://opensource.org/licenses/mit-license.html)
CC BY 3.0 ( http://creativecommons.org/licenses/by/3.0/)
Powered by Worktribe © 2024
Advanced Search