Replication data for: Moving to a Job: The Role of Home Equity, Debt, and Access to Credit

Principal Investigator(s): View help for Principal Investigator(s) Yuliya Demyanyk; Dmytro Hryshko; María Jose Luengo-Prado; Bent E. Sørensen

Version: View help for Version V1

Name	File Type	Size	Last Modified
ToSubmit			10/26/2021 02:35:PM
LICENSE.txt	text/plain	14.6 KB	12/07/2019 09:18:AM

Project Citation:

Demyanyk, Yuliya, Hryshko, Dmytro, Luengo-Prado, María Jose, and Sørensen, Bent E. Replication data for: Moving to a Job: The Role of Home Equity, Debt, and Access to Credit. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116396V1

Project Description

Summary: We use individual-level credit reports merged with loan-level mortgage data to estimate how home equity interacted with mobility in relatively weak and strong labor markets in the United States during the Great Recession. We construct a dynamic model of housing, consumption, employment, and relocation, which provides a structural interpretation of our empirical results and allows us to explore the role that foreclosure played in labor mobility. We find that negative home equity is not a significant barrier to job-related mobility because the benefits of accepting an out-of-area job outweigh the costs of moving. This pattern holds even if homeowners are not able to default on their mortgages.

Scope of Project

JEL Classification:
      D14 Household Saving; Personal Finance
      G01 Financial Crises
      J61 Geographic Labor Mobility; Immigrant Workers
      R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
      R31 Housing Supply and Markets

Geographic Coverage: United States

Data Type(s): program source code

Methodology

Unit(s) of Observation: Individuals,

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Published Versions

V1 [2019-12-07]

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DDI 2.5

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