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Locked in by Leverage: Job Search during the Housing Crisis / Jennifer Brown, David A. Matsa.
- Format:
- Book
- Author/Creator:
- Brown, Jennifer.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w22929.
- NBER working paper series no. w22929
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Locked in by Leverage
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2016.
- Summary:
- This paper examines how housing market distress affects job search. Using data from a leading online job search platform during the Great Recession, we find that job seekers in areas with depressed housing markets apply for fewer jobs that require relocation. With their search constrained geographically, job seekers broaden their search to lower level positions nearby. These effects are stronger for job seekers with recourse mortgages, which we confirm using spatial regression discontinuity analysis. Our findings suggest that housing market distress distorts labor market outcomes by impeding household mobility.
- Notes:
- Print version record
- December 2016.
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