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Journal Article

Residential mobility: wealth, demographic and housing market effects

Authors

Publication date

Nov 2012

Summary

The study presents a very simple model in which housing equity can influence mobility, and then estimates parameters that gauge the impact of housing equity, local house prices and other variables associated with household structure and change on residential movement within the UK. The data come from the British Household Panel Study over 1992–2008, which allow us to use within-person variation to identify the parameters. The parameter estimates indicate that estimates based on cross-section variation are seriously biased in our analysis. We check the robustness of our results to errors in measuring equity using an instrumental variable estimator. Our main finding is that an increase in a household's housing equity encourages residential mobility substantially, and a decline discourages it.

Published in

Scottish Journal of Political Economy

Volume and page numbers

59 , 483 -499

DOI

http://dx.doi.org/10.1111/j.1467-9485.2012.00591.x

ISSN

16

Subjects

Demography and Housing Market

Links

http://serlib0.essex.ac.uk/record=b1587548~S5

Notes

Albert Sloman Library Periodicals *restricted to Univ. Essex registered users*

#521055


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