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Leaving home and housing prices. The experience of Italian youth emancipation

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  • Francesca Modena
  • Concetta Rondinelli

Abstract

This paper provides an explanation for the postponement of the youth emancipa- tion in the Italian context mainly characterized by a sharp increase in both house and rent prices together with a stagnant disposable income over the last decade. We first assemble a unique database related to the housing and rental market value which is then matched with household characteristics. We find a significant effect of the real estate market: the probability of moving out decreases by about 0.45% and 1.18% for males and females respectively for a one-standard-deviation increase in house prices. Together with property prices, local labour markets play a prominent role in determin- ing unemployed youth decisions to postpone the transition. The youngest cohort was mainly affected by the real estate market evolution occurred in the last decade

Suggested Citation

  • Francesca Modena & Concetta Rondinelli, 2011. "Leaving home and housing prices. The experience of Italian youth emancipation," Department of Economics Working Papers 1101, Department of Economics, University of Trento, Italia.
    • Handle: RePEc:trn:utwpde:1101
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    Cited by:

    1. Enrica Di Stefano, 2019. "Leaving your mamma: why so late in Italy?," Review of Economics of the Household, Springer, vol. 17(1), pages 323-347, March.
    2. Antonio Accetturo & Matteo Bugamelli & Andrea Lamorgese, 2012. "Welcome to the machine: firms' reaction to low-skilled immigration," Temi di discussione (Economic working papers) 846, Bank of Italy, Economic Research and International Relations Area.
    3. Effrosyni Adamopoulou & Ezgi Kaya, 2018. "Young Adults Living with their Parents and the Influence of Peers," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 80(3), pages 689-713, June.
    4. Berloffa, Gabriella & Modena, Francesca, 2012. "Economic well-being in Italy: The role of income insecurity and intergenerational inequality," Journal of Economic Behavior & Organization, Elsevier, vol. 81(3), pages 751-765.
    5. Cristina Conflitti & Roberta Zizza, 2021. "What’s behind firms’ inflation forecasts?," Empirical Economics, Springer, vol. 61(5), pages 2449-2475, November.
    6. Christian Beer & Karin Wagner, 2017. "Household's housing expenditure in Austria, Germany and Italy," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q4/17, pages 48-61.
    7. Tindara Addabbo & Paula Rodr íguez-Modroño & Lina Gálvez-Muñoz, 2014. "Youth living in a couple. How women's labour supply adapts to the crisis. The case of Spain," Center for the Analysis of Public Policies (CAPP) 0114, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    8. Emanuele Ciani & Claudio Deiana, 2016. "No Free Lunch, Buddy: Housing Transfers and Informal Care Later in Life," Center for the Analysis of Public Policies (CAPP) 0134, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    9. Gabriella Berloffa & Francesca Modena & Paola Villa, 2014. "Changing Labour Market Opportunities for Young People in Italy and the Role of the Family of Origin," Rivista italiana degli economisti, Società editrice il Mulino, issue 2, pages 227-252.
    10. Valter Di Giacinto & Matteo Gomellini & Giacinto Micucci & Marcello Pagnini, 2014. "Mapping local productivity advantages in Italy: industrial districts, cities or both?," Journal of Economic Geography, Oxford University Press, vol. 14(2), pages 365-394.
    11. Enrica Di Stefano, 2017. "Leaving your mamma: why so late in Italy?," Temi di discussione (Economic working papers) 1144, Bank of Italy, Economic Research and International Relations Area.
    12. Roberto Felici & Elisabetta Manzoli & Raffaella Pico, 2012. "Crisis and Italian households: a microeconomic analysis of mortgage contracts," Questioni di Economia e Finanza (Occasional Papers) 125, Bank of Italy, Economic Research and International Relations Area.
    13. Bettina Isengard & Ronny König & Marc Szydlik, 2018. "Money or space? Intergenerational transfers in a comparative perspective," Housing Studies, Taylor & Francis Journals, vol. 33(2), pages 178-200, February.
    14. Emanuele Ciani & Claudio Deiana, 2018. "No free lunch, buddy: past housing transfers and informal care later in life," Review of Economics of the Household, Springer, vol. 16(4), pages 971-1001, December.
    15. Tindara Addabbo & Randi Kjeldstad, 2013. "Household affiliation of young adults in Italy and Norway. The significance of gender, sociocultural background, work and money," Discussion Papers 752, Statistics Norway, Research Department.
    16. Cristina Conflitti & Roberta Zizza, 2018. "What�s behind firms� inflation forecasts?," Questioni di Economia e Finanza (Occasional Papers) 465, Bank of Italy, Economic Research and International Relations Area.
    17. Rosario Maria Ballatore & Vincenzo Mariani, 2019. "Human Capital Differentials Across Urban and Rural Areas in Italy. The Role of Migrations," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 5(2), pages 307-324, July.
    18. Adamopoulou, Effrosyni, 2016. "Living Arrangements of the Youth: Determinants and Gender Differences/Patrones de convivencia de los jóvenes: Determinantes y diferencias por sexos," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 34, pages 35-44, Enero.
    19. Addabbo, Tindara & Rodríguez-Modroño, Paula & Gálvez-Muñoz, Lina, 2015. "Young people living as couples: How women's labour supply is adapting to the crisis. Spain as a case study," Economic Systems, Elsevier, vol. 39(1), pages 27-42.
    20. Tubadji, Annie & Nijkamp, Peter, 2017. "Green Online vs Green Offline preferences on local public goods trade-offs and house prices," Socio-Economic Planning Sciences, Elsevier, vol. 58(C), pages 72-86.

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    More about this item

    Keywords

    coresidence; moving out; real estate market; discrete time duration model;
    All these keywords.

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • D1 - Microeconomics - - Household Behavior
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis

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