Home-ownership and unemployment : revisiting the Oswald hypothesis from a regional heterogeneity perspective
Tohmo, T., & Viinikainen, J. (2023). Home-ownership and unemployment : revisiting the Oswald hypothesis from a regional heterogeneity perspective. Economics and Business Letters, 12(4), 342-355. https://doi.org/10.17811/ebl.12.4.2023.342-355
Julkaistu sarjassa
Economics and Business LettersPäivämäärä
2023Oppiaine
TaloustiedeEmpirical MicroeconomicsPäätöksentekoa tukeva taloustiede ja talouden kilpailukyky (painoala)Hyvinvoinnin tutkimuksen yhteisöJyväskylä International Macro & FinanceEconomicsEmpirical MicroeconomicsPolicy-Relevant Economics and Competitiveness of Economy (focus area)School of WellbeingJyväskylä International Macro & FinanceTekijänoikeudet
© Ediuno. Ediciones de la Universidad de Oviedo / Oviedo University Press
Home-ownership may create both positive and negative externalities. As an example of a negative externality, the so-called Oswald hypothesis suggests that a high home-ownership rate creates frictions in the economy and thus increases the unemployment rate. We approach this hypothesis from a novel perspective by taking into account regional differences in population density and dwelling composition. Using municipality-level panel data, we find that although the phenomenon identified by the Oswald hypothesis may not be omnipresent, it may manifest itself, particularly in semi-urban areas where the share of large ownership dwellings is high. We also find that in-migration to these areas is lower, which is consistent with the view that the home-ownership rate may affect migration flows and, thus, economic dynamics.
Julkaisija
Universidad de OviedoISSN Hae Julkaisufoorumista
2254-4380Asiasanat
Julkaisu tutkimustietojärjestelmässä
https://converis.jyu.fi/converis/portal/detail/Publication/197260947
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