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American Economic Review: Vol. 102 No. 3 (May 2012)
AER Volume. 102, Issue 3 | 
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Unemployment in the Great Recession: Did the Housing Market Crisis Prevent the Unemployed from Moving to Take Jobs?
Article Citation
Farber, Henry S. 2012. "Unemployment in the Great Recession: Did the Housing Market Crisis Prevent the Unemployed from Moving to Take Jobs?."
American Economic Review,
102(3): 520-25.
DOI: 10.1257/aer.102.3.520
DOI: 10.1257/aer.102.3.520
Abstract
The labor market in the Great Recession and its aftermath is characterized by great difficulty in escaping unemployment. I present two empirical analyses of a particular explanation for that difficulty, that the housing market crisis has prevented the unemployed from selling their homes and moving to take new jobs. First, I examine post-job-loss mobility rates by home ownership status using data from the Displaced Workers Survey. Second, I examine mobility rates for unemployed homeowners and renters from the month-to-month CPS match. Neither analysis provides any support for the idea that the housing market crisis has reduced mobility of the unemployed.
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Full-text Article
Authors
Farber, Henry S. (Princeton U)
JEL Classifications
E24: Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital
E32: Business Fluctuations; Cycles
J64: Unemployment: Models, Duration, Incidence, and Job Search
R31: Housing Supply and Markets
J61: Geographic Labor Mobility; Immigrant Workers
E32: Business Fluctuations; Cycles
J64: Unemployment: Models, Duration, Incidence, and Job Search
R31: Housing Supply and Markets
J61: Geographic Labor Mobility; Immigrant Workers
