Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractMixed commercial and residential land use is observed in most cities around the world. This is in contrast to a myriad of bid rent models, which predict that mixed land use does not occur. The main exception are the models by Fujita and Ogawa (1982) and Lucas and Rossi-Hansberg (2002) that predict the presence of a very restrictive type of mixed land use. The latter study derives the equilibrium distribution of residential and commercial land uses while allowing for endogenous agglomeration externalities. We extend this model by introducing a traffic congestion externality. We show that congestion induces a general type of mixed land use zone, which is comparable to the type of zone assumed in the model of Wheaton (2004). The interplay between these externalities is then demonstrated, as reduced congestion leads to commercial concentration and agglomeration gains.
According to Oswald's thesis, homeownership increases unemployment. Empirical research on micro-data has indeed confirmed that unemployed homeowners are less inclined to change their residential location and accept a new job elsewhere. However, it is also repeatedly found that unemployed homeowners tend to find a job more easily than otherwise comparable tenants. This paper aims to make a new contribution to the scientific debate on Oswald's thesis by addressing the risk attitudes of job seekers. We show that decreasing absolute risk aversion implies that the exit rate from unemployment is increasing in housing costs, in the context of a standard job search model. Therefore, the higher costs associated with leveraged homeownership may be the driving force of homeowners' observed labor market performance. We test this prediction on the basis of Dutch data on individual unemployment spells. Contrary to our hypothesis, we do not find evidence that a higher mortgage is associated with higher exit rates from unemployment. Rather, our findings support earlier microeconometric results that homeownership tends to accelerate a successful job search.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.