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House prices, wealth effects and labour supply
journal contribution
posted on 2023-06-09, 08:49 authored by Richard Disney, John GathergoodWe examine the impact of house prices on labour supply decisions using UK microdata. We combine household survey data with local-level house price measures and controls for local labour demand. Our microdata also allow us to control for individual level income expectations. We find significant house price effects on labour supply, consistent with leisure being a normal good. Labour supply responses to house prices are concentrated among young married female owners and older owners. This finding suggests that house prices affect the decisions of marginal workers in the economy. Our estimates imply that house prices are economically important in the participation decisions for these workers.
History
Publication status
- Published
File Version
- Accepted version
Journal
EconomicaISSN
0013-0427Publisher
WileyExternal DOI
Issue
339Volume
85Page range
449-478Department affiliated with
- Economics Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2017-11-14First Open Access (FOA) Date
2019-05-01First Compliant Deposit (FCD) Date
2019-02-27Usage metrics
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