Labor income uncertainty, skewness and homeownership: A panel data study for Germany and Spain

Journal of Urban Economics

Volumn 58, Issue 1, 2005, Pages 156-176

  Diaz Serrano, Luis ^a,b,c  

^a NATIONAL UNIVERSITY OF IRELAND   (Ireland)

^b IZA   (Germany)

^c CREB   (Spain)

Author keywords

Credit constraints; Homeownership; Income skewness; Income uncertainty; Permanent income; Risk aversion; Transitory income

Indexed keywords

EID: 20444481699     PISSN: 00941190     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jue.2005.03.003     Document Type: Article

References (30)

1. W. Arulampalam A note on estimated coefficients in random effects probit models Oxford Bulletin of Economics and Statistics 61 1999 597-602
2. I. Bertschek M. Lechner Convenient estimators for the panel probit model Journal of Econometrics 87 1998 329-372
3. M. Biewen, Measuring state dependence in individual poverty status: Are there feedback effects to employment decisions and household composition? IZA discussion paper #1138, Bonn, 2004
4. W.A.V. Clark M.C. Deurloo F.M. Dieleman Entry to home-ownership in Germany: Some comparisons with the United States Urban Studies 34 1997 7-19
5. J.S. DeSalvo L.R. Eeckhoudt Household behavior under income uncertainty in a monocentric urban area Journal of Urban Economics 11 1982 11-98
6. L. Diaz-Serrano, J. Hartog, H.S. Nielsen, Compensating wage differentials for schooling risk in Denmark, IZA discussion paper #963, Bonn, 2003
7. M.R. Dynarski S.M. Sheffrin Housing purchases and transitory income: A study with panel data Review of Economics and Statistics 67 1985 195-204
8. M.P. Eastaway I. San Martin General trends in financing social housing in Spain Urban Studies 36 1999 699-714
9. M.P. Eastaway I. San Martin The tenure imbalance in Spain: The need for social housing policy Urban Studies 39 2002 283-295
10. Y. Fu Uncertainty, liquidity, and housing choices Regional Science and Urban Economics 25 1995 223-236
11. T.A. Garrett R.S. Sobel Gamblers favor skewness, not risk: Further evidence from United States' lottery games Economics Letters 63 1999 85-90
12. W.H. Green Econometric Analysis fourth ed. 2000 Prentice Hall NJ
13. J. Hartog, W. Vijverberg, Do wages really compensate for risk aversion and skewness affection, IZA discussion paper #426, Bonn, 2002
14. J. Hartog E.J.S. Plug L. Diaz-Serrano A.J.C. Vieira Risk compensation in wages: A replication Empirical Economics 28 2003 639-647
15. D.R. Haurin H.L. Gill Effects of income variability on the demand for owner-occupied housing Journal of Urban Economics 22 1987 136-150
16. D.R. Haurin Income variability, homeownership, and housing demand Journal of Housing Economics 1991 60-74
17. D.R. Haurin T.L. Parcel R.J. Haurin Does homeownership affect child outcomes? Real Estate Economics 30 2002 635-666
18. J.V. Henderson Y.M. Ioannides A model of housing tenure choice American Economic Review 73 1983 98-113
19. J.V. Henderson Y.M. Ioannides Owner occupancy: Consumption vs. investment demand Journal of Urban Economics 21 1987 228-241
20. C. Hsiao Analysis of Panel Data 1986 Cambridge Univ. Press Cambridge
21. D. Kahneman A. Tversky Prospect theory: An analysis of decision under risk Econometrica 47 1979 263-291
22. D. Kahneman A. Tversky Loss aversion in riskless choice: A reference-dependent model Quarterly Journal of Economics 106 1991 1039-1061
23. A. King Occupational choice, risk aversion, and wealth Industrial Labor Relations Review July 1974 586-596
24. K. McGoldrick Do women receive compensating wages for earnings uncertainty? Southern Economic Journal 62 1995 210-222
25. Y. Mundlak On the pooling of time series and cross section data Econometrica 46 1978 69-85
26. P. Neuteboom A European comparison of the costs and risks of mortgages for owner-occupiers European Journal of Housing Policy 3 2003 155-171
27. J. Robst R. Deitz K. McGoldrick Income variability, uncertainty and housing tenure choice Regional Science and Urban Economics 29 1999 219-229
28. H.S. Rosen K.T. Rosen D. Holtz-Eakin Housing tenure, uncertainty, and taxation Review of Economics and Statistics 66 1984 405-416
29. S.C. Tsiang The rationale of the mean-standard deviation analysis, skewness preference, and the demand for money American Economic Review 64 1974 354-371
30. G.K. Turnbull J.L. Glascock C.F. Sirmans Uncertain income and housing price and location choice Journal of Regional Science 31 1991 417-433