Residential Mobility: Wealth, Demographic and Housing Market Effects
Residential Mobility: Wealth, Demographic and Housing Market Effects
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DOI：
10.1111/j.1467-9485.2012.00591.x
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发表时间：
2012-11
期刊：
影响因子：
--
通讯作者：
J. Ermisch;E. Washbrook
中科院分区：
文献类型：
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作者：
J. Ermisch;E. Washbrook
该研究提出了一个非常简单的模型，其中住房权益可以影响流动性，然后估计了衡量住房权益、当地房价和其他与英国家庭结构和住房流动变化相关的变量的影响的参数。这些数据来自1992年至2008年的英国家庭小组研究，这使我们能够利用个人差异来确定参数。参数估计表明，基于截面变化的估计在我们的分析中有严重的偏差。我们检查我们的结果稳健性，以误差衡量权益使用工具变量估计。我们的主要发现是，家庭住房净值的增加会极大地鼓励住房流动性，而住房净值的下降则会阻碍住房流动性。
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.