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The Effects of Housing Distortions on Unemployment

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  • Minford, Patrick
  • Ashton, Paul
  • Peel, Michael

Abstract

This paper attempts to measure the effects of U.K. government intervention in the housing market on mobility and unempl oyment. Incentives to move from areas of high to those of low unemployment are penalized by the interaction of social security, ren t subsidies, and other market distortions, such as union power. A regional unemployment model along these lines is specified and estimated for pooled U.K. data on eleven Standard Economic Regions fr om 1963 to 1979. The results assign a significant role to an index of housing distortion, unionization, rate poundage, and to regional demand composition. The total effect of housing distortion on unemployment is estimated tentatively at 1.8 percent. Copyright 1988 by Royal Economic Society.

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  • Minford, Patrick & Ashton, Paul & Peel, Michael, 1988. "The Effects of Housing Distortions on Unemployment," Oxford Economic Papers, Oxford University Press, vol. 40(2), pages 322-345, June.
    • Handle: RePEc:oup:oxecpp:v:40:y:1988:i:2:p:322-45
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    Cited by:

    1. Colin Jones & Chris Leishman, 2006. "Spatial Dynamics of the Housing Market: An Interurban Perspective," Urban Studies, Urban Studies Journal Limited, vol. 43(7), pages 1041-1059, June.
    2. Jim Millington, 2000. "Migration and Age: The Effect of Age on Sensitivity to Migration Stimuli," Regional Studies, Taylor & Francis Journals, vol. 34(6), pages 521-533.
    3. Ian Gordon & Ian Molho, 1998. "A Multi-stream Analysis of the Changing Pattern of Interregional Migration in Great Britain, 1960-1991," Regional Studies, Taylor & Francis Journals, vol. 32(4), pages 309-323.
    4. Philip Arestis & Ana Rosa Gonzalez‐Martinez, 2019. "Economic precariousness: A new channel in the housing market cycle," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 24(2), pages 1030-1043, April.
    5. Kevin Doogan, 1996. "Labour Mobility and the Changing Housing Market," Urban Studies, Urban Studies Journal Limited, vol. 33(2), pages 199-221, March.
    6. Ian Molho, 1991. "Patterns and Trends in Local Pay in Great Britain, 1975-76 to 1987-88," Urban Studies, Urban Studies Journal Limited, vol. 28(4), pages 535-552, August.
    7. Paul Flatau & Matt Forbes & Patric H. Hendershott, 2003. "Homeownership and Unemployment: The Roles of Leverage and Public Housing," NBER Working Papers 10021, National Bureau of Economic Research, Inc.

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