How house price appreciation affects homeowners' labour force participation |
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| Authors: | Jianmei Zhao Lin Liu Ruihan Liu |
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| Institution: | 1. China Academy of Public Finance and Public Policy (CAPFPP), Central University of Finance and Economics (CUFE), Beijing, China;2. Department of Marketing, College of Economics and Management, Beijing University of Agriculture, Beijing, China |
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| Abstract: | This paper investigates the effects of house price appreciation on homeowners' labour force participation (LFP). Although economic theories predict that housing capital gains will reduce labour supply, empirical evidence from urban China revealed that house price appreciation significantly boosts homeowners' LFP. Heterogeneous analyses indicate that LFP behaviour is more likely to be affected by house price appreciation for female and younger homeowners. Furthermore, homeowners living in provinces with greater house price appreciation tend to be more active in job participation than those living in provinces with lower price appreciation. |
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| Keywords: | housing price appreciation labour supply China |
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