Using a Structural-Form Model to Analyze the Impact of Home Ownership on Unemployment Duration
估计了一个结构形式模型，发现房屋所有权对失业者找到工作的正面影响主要源于自我选择，而非所有权本身的作用。
It is often found that the impact of home ownership on the hazard rate for leaving unemployment is positive, indicating that home ownership helps workers to leave unemployment for a paid job. However, little emphasis has been given to how such a relationship can be explained. This paper estimates a structural-form model that allows for self-selection into home ownership and the risk of home owners losing their property during a spell of unemployment. We find a substantial amount of self-selection using indirect inference based on a mixed proportional hazards-rate model and find virtually no impact of home ownership on individual labor market performance. Copyright © 2016 John Wiley & Sons, Ltd.