Work

A Conjecture on the Explanation for High Unemployment in the Industrialized Nations: Part I

Year: 1996

Type: preprint

Abstract: The paper conjectures that the high unemployment of the Western economies has been produced by the decline of the private house-rental market and the rise of home-ownership. Evidence is provided for the developed nations, the states of the USA, and the regions of the UK, Italy, France and Sweden. Although its calculations should be viewed as tentative, the paper's results imply that a 10 percentage point rise in the owner-occupation rate is associated with an increase of approximately 2 percentage points in the unemployment rate. This would be sufficient to explain a significant part of the rise in joblessness in the industrialized countries

Source: RePEc: Research Papers in Economics

DOI: 10.22004/ag.econ.268744

Authors: Oswald, Andrew J., Oswald, Andrew J.

Institution: University of Warwick

Language: English

Topic: Housing Market and Economics

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

Funder: Leverhulme Trust