In this paper we show the extent that home ownership varies over the life-cycle and differs by cohort and by education. We explain these differences in a calibrated model of life-cycle behaviour where households choose labour supply and consumption and also home-ownership status. Home-ownership is associated with greater labour supply both in the model and in the data. We use the model to show the effect that alternative assumptions on capital market imperfections make to home-ownership and to labour supply. Increases in downpayment requirements lead to delays in home ownership. Decreases in the permitted debt to income ratio lead to less home-ownership across the life-cycle.

O. Attanasio, R. Bottazzi, H. Low, L. Nesheim, M. Wakefield (2006). Explaining Life-Cycle Profiles of Home-Ownership and Labour Supply. s.l : s.n.

Explaining Life-Cycle Profiles of Home-Ownership and Labour Supply

BOTTAZZI, RENATA;WAKEFIELD, MATTHEW JOHN
2006

Abstract

In this paper we show the extent that home ownership varies over the life-cycle and differs by cohort and by education. We explain these differences in a calibrated model of life-cycle behaviour where households choose labour supply and consumption and also home-ownership status. Home-ownership is associated with greater labour supply both in the model and in the data. We use the model to show the effect that alternative assumptions on capital market imperfections make to home-ownership and to labour supply. Increases in downpayment requirements lead to delays in home ownership. Decreases in the permitted debt to income ratio lead to less home-ownership across the life-cycle.
2006
Book of abstracts
O. Attanasio, R. Bottazzi, H. Low, L. Nesheim, M. Wakefield (2006). Explaining Life-Cycle Profiles of Home-Ownership and Labour Supply. s.l : s.n.
O. Attanasio; R. Bottazzi; H. Low; L. Nesheim; M. Wakefield
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11585/31372
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