Residential mobility and housing tenure choice |
| |
| Institution: | 1. Athens School of Economics and Business, Athens, Greece;2. Virginia Polytechnic Institute and State University, Blacksburg, VA 24061, USA;3. National Bureau of Economic Research, Cambridge, MA 02138, USA;1. Lund University, Faculty of Medicine, Department of Clinical Sciences Lund, Orthopaedics, Clinical Epidemiology Unit, Lund, Sweden;2. Clinical and Molecular Research Unit, Departments of Orthopedics and Clinical Sciences, Skåne University Hospital Malmö, Lund University, Malmö, Sweden;3. Clinical Epidemiology Research and Training Unit, Boston University School of Medicine, Boston, MA, USA;1. Ningbo Institute of Technology, Zhejiang University, Ningbo, 315100, China;2. Department of Linguistics, Zhejiang University, Hangzhou, 310058, China;3. Center for Linguistics and Applied Linguistics, Guangdong University of Foreign Studies, Guangzhou, 510420, China;1. Electrical Engineering and Computer Sciences, UC Berkeley, 652 Sutardja Dai Hall, Berkeley, CA 94720, USA;2. Civil and Environmental Engineering, UC Berkeley, 109 McLaughlin Hall, Berkeley, CA 94720, USA;3. Institute for Transportation Studies (ITS), UC Berkeley, 109 McLaughlin Hall, Berkeley, CA 94720, USA |
| |
| Abstract: | This paper treats housing tenure choice and residential moves as joint decisions. The parameters of a semi-Markov model with two states, renting and owning and continuous time, length of stay, are estimated with data from the U.S. Panel Study of Income Dynamics for 1970–1980. Several distributional assumptions for residence spells confirm the basic role played by housing prices, wealth and other characteristics. Higher wealth implies higher likelihood of owning higher mobility for renters and lower for owners. Households with educated hands are more mobile. Housing modal prices may have statistically very significant coefficients, but not always as anticipated. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
