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European Rust Belts. West-East Comparisons – and Beyond

International Conference, Regensburg, 7-8 May 2020
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Deadline for submissions: 15 August 2019

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16. Juli 2019
Vorträge

Does homeownership hinder labor market activity? Evidence from housing privatization and restitution in Brno

Ein Vortrag von Josef Montag (Charles University in Prague) im Rahmen der Seminarreihe des AB Ökonomie am IOS.
Datum: 16. Juli 2019
Zeit: 13.30 Uhr
Ort: Leibniz-Institut für Ost-und Südosteuropaforschung (IOS), Landshuter Str. 4 (Raum 109)

We study the effects of homeownership on labor force participation and unemployment. We exploit housing privatization and restitution after the fall of communism as a source exogenous assignment of homeowner/renter status, using a unique dataset from the city of Brno, Czech Republic. We do not find any evidence of homeownership hindering labor force participation. In fact, our estimates suggest that homeownership reduces unemployment by four to six percentage points. Homeownership appears to decrease the risk of unemployment by about one third to one half, relative to renters. The estimated effects on labor force participation are systematically around zero.