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Home-ownership and unemployment: a French test of the Oswald hypothesis

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  • Florent Sari

Abstract

In a series of papers, Andrew Oswald (1996, 1999) has argued that a major explanation of unemployment in Oecd countries is the increase of home-ownership. In this work, we try to test the Oswald Hypothesis for French employment areas. We analyse the effect of home-ownership rate and other residential status on unemployment rate. We use a generalized spatial two-stage least squares (Gs2sls) procedure in order to account for two forms of spatial dependence in our data (a spatial autocorrelation in the dependent variable and a spatial autocorrelation in the error terms), but also endogeneity of residential status. Our findings are in contradiction with the Oswald hypothesis. Indeed, all other things being equal, a high home-ownership rate is associated with a low unemployment rate.

Suggested Citation

  • Florent Sari, 2015. "Home-ownership and unemployment: a French test of the Oswald hypothesis," Revue d'économie régionale et urbaine, Armand Colin, vol. 0(1), pages 211-250.
    • Handle: RePEc:cai:rerarc:reru_151_0211
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    Citations

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    Cited by:

    1. Denis Anne, 2019. "Aides à la mobilité et insertion sociale," Erudite Ph.D Dissertations, Erudite, number ph19-03 edited by Yannick L'Horty, September.
    2. William Cochrane & Jacques Poot, 2020. "Did the post-1986 decline in the homeownership rate benefit the New Zealand labour market? A spatial-econometric exploration," Asia-Pacific Journal of Regional Science, Springer, vol. 4(1), pages 261-284, February.
    3. Ch.-M. CHEVALIER & R. LARDEUX, 2017. "Homeownership and labor market outcomes: disentangling externality and composition effects," Documents de Travail de l'Insee - INSEE Working Papers g2017-09, Institut National de la Statistique et des Etudes Economiques.
    4. Waqar Badshah & Mehmet Bulut, 2020. "Model Selection Procedures in Bounds Test of Cointegration: Theoretical Comparison and Empirical Evidence," Economies, MDPI, vol. 8(2), pages 1-23, June.

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