Housing Markets And Regional Unemployment Flows In Great Britain

Abstract

The denitive version is available at www.blackwell-synergy.com Additional information: Use policyThe full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that:• a full bibliographic reference is made to the original source • a link is made to the metadata record in DRO • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders.Please consult the full DRO policy for further details. AbstractOver the past 20 years, there has been a great deal of interest from academic economists and policy makers in the UK in the contribution of the housing market to regional disparities in unemployment. However, despite a considerable body of research, there remains a great deal of uncertainty concerning the role played by different features of the housing market in shaping the regional pattern of unemployment. In this study, we aim to gain a deeper understanding of this issue by examining the relationship between housing market variables and the flows into and out of regional unemployment. Our findings indicate that both the level of regional house prices and the housing tenure mix have significant effects on the rate of flows into and out of regional unemployment and hence upon the equilibrium rate of unemployment in a region. In particular, we find that regions with a relatively high level of house prices and/or a low proportion of social rented housing will tend to have a relatively low equilibrium rate of unemployment, other things equal.JEL code: J43, R23, R58 2

Spatial Dynamics of the Housing Market: An Interurban Perspective

“…Work by Henley (1998) shows that negative equity during the 1990s impeded the migration of labour between labour markets. Robson (2003) also demonstrates the direct influences of regional variations in the housing market on labour market flows into and out of unemployment independent of migration flows.…”

Statut résidentiel et durée de chômage en France et au Royaume-Uni

“…Au-delà des effets macroéconomiques attendus du degré de flexibilité du marché du travail spécifique à chaque pays sur les niveaux respectifs de taux de chômage, le parallélisme des tendances longues du taux de chômage et de l'accession à la propriété semble toutefois plus marqué pour la France que pour le Royaume-Uni, en particulier au cours des années récentes. A partir de données régionales anglaises sur les flux d'entrée et de sortie du chômage couvrant la période1984 -1995, Robson [2003 met en évidence une corrélation négative entre les différences inter-régionales de taux de chômage et les écarts régionaux de taux de propriétaires, résultat qui réfute l'hypothèse d'Oswald. L'auteur met en revanche un modèle probit bivarié, ils distinguent au sein de la population des propriétaires, les accédants à la propriété supportant encore une charge d'emprunt et les propriétaires.…”

Houses and/or Jobs: Ownership and the Labour Market in Belgian Districts

“…Most of these studies find home owners to have a better employment status than renters (see e.g. Fisher, 2002, 2009, for the US; Robson, 2003, for the UK; van Leuvensteijn and Koning, 2004, for the Netherlands; Munch et al, 2006, 2008. A related, but somewhat different issue is whether individual owners are also more mobile after becoming unemployed.…”

“…Studies using microeconomic data very often challenge the Oswald hypothesis, and find home owners to have better employment positions (e.g. Fisher, 2002, 2009;Robson, 2003;van Leuvensteijn and Koning, 2004;Munch et al, 2006Munch et al, , 2008. Studies using macroeconomic data are more often in line with Oswald (e.g.…”