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Financial Markets, Judicial Costs and Housing Tenure: An International Comparison

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  • Tullio Jappelli
  • Maria Chiuri

Abstract

This paper explores the determinants of international patterns of housing tenure choice. Up to now, no study has carried out an international comparison in housing tenure using household level data. The Luxembourg Income Study (LIS) provides microeconomic data on fourteen OECD countries. In most of these countries the cross-section is repeated over time. This allows us to construct a truly unique international dataset on over 400,000 households. The dataset also includes selected demographic variables (carefully matched between the different surveys). After controlling for fixed-country effects, cohort effects and calendar time effects, we find strong evidence that different down payment ratios affect the age-profile of housing tenure, particularly for the young.

Suggested Citation

  • Tullio Jappelli & Maria Chiuri, 2000. "Financial Markets, Judicial Costs and Housing Tenure: An International Comparison," LIS Working papers 230, LIS Cross-National Data Center in Luxembourg.
    • Handle: RePEc:lis:liswps:230
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    Cited by:

    1. M. L. Blackburn, 2010. "The Impact of Internal Migration on Married Couples' Earnings in Britain," Economica, London School of Economics and Political Science, vol. 77(307), pages 584-603, July.
    2. Francesco Giavazzi & Alberto Giovannini, 2001. "A More Efficient Financial System for Improved Economic Performance : An Attempt at Identifying the Priorities," Revue d'Économie Financière, Programme National Persée, vol. 62(2), pages 71-81.
    3. Francesco Giavazzi & Alberto Giovannini, 2001. "Un système financier plus efficient pour obtenir de meilleures performances économiques : une tentative d'identification des priorités," Revue d'Économie Financière, Programme National Persée, vol. 62(2), pages 79-91.
    4. L. Blackburn, McKinley, 2006. "The impact of internal migration on married couples’ earnings in Britain, with a comparison to the United States," ISER Working Paper Series 2006-24, Institute for Social and Economic Research.

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