Job match and housing tenure
利用丹麦行政数据,研究发现房主比租房者工作匹配更好,且改善匹配会促使租房者购房,同时住房产权通过直接因果和选择效应延长工作任期。
Abstract Homeownership, though it brings both private and social benefits, entails substantial fixed costs. Standard personal financial advice suggests that homeownership should only be undertaken when one's job situation is stable and job movement is not likely in the near future. Little research has asked whether this advice is followed. Our goal is to rectify that omission. To test this hypothesis, we employ detailed information on workers and housing decisions from Danish administrative data. We construct a measure of job mismatch and find evidence, suggesting that homeowners are indeed better matched at their jobs than renters, and that an improved match leads renters to become homeowners. An examination of job durations suggests that homeownership is correlated with longer job duration both because of a direct causal effect and also due to an indirect effect through selection into homeownership.