Home ownership as a labor market friction
研究住房自有对个人失业时长的影响，发现自有住房者因搬迁成本更高而面临更长的失业期，并利用童年环境偏好工具变量解决内生性问题。
Abstract This paper estimates the effect of home ownership on individuals' unemployment. Because of higher moving costs, home owners will be less willing than renters to relocate for work and could therefore face longer unemployment spells. Estimation is complicated by the endogeneity of ownership, as owners will have different abilities, preferences, and job prospects than renters. I instrument for home ownership using a preference shifter from the worker's childhood environment. The results indicate that home ownership is a significant hindrance to mobility, and home owners suffer longer unemployment spells because of it.