Data and Code for: Housing Lock: Dutch Evidence on the Impact of Negative Home Equity on Household Mobility

Principal Investigator(s): View help for Principal Investigator(s) Asaf Bernstein, University of Colorado-Boulder; Daan Struyven, Goldman Sachs Economic Research

Version: View help for Version V1

Name	File Type	Size	Last Modified
0_readme.pdf	application/pdf	187 KB	05/27/2022 05:58:PM
Analysis.do	text/plain	26.5 KB	09/29/2021 09:12:AM
Build_panel_buyers.do	text/plain	45.8 KB	09/29/2021 09:34:AM
Data_Figure1.xlsx	application/vnd.openxmlformats-officedocument.spreadsheetml.sheet	21.6 KB	09/29/2021 09:36:AM
Data_FigureA5.xlsx	application/vnd.openxmlformats-officedocument.spreadsheetml.sheet	17.3 KB	09/29/2021 08:39:AM
Select_trans.do	text/plain	25.1 KB	09/29/2021 01:11:PM

Project Citation:

Bernstein, Asaf, and Struyven, Daan. Data and Code for: Housing Lock: Dutch Evidence on the Impact of Negative Home Equity on Household Mobility. Nashville, TN: American Economic Association [publisher], 2022. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2022-07-26. https://doi.org/10.3886/E151222V1

Project Description

Summary: This paper employs Dutch administrative population data to test the “housing lock hypothesis”: the conjecture that homeowners with negative home equity, low levels of financial assets and restricted opportunities to borrow reduce their mobility. Variation in home equity driven by the timing of home purchase within a municipality and the harshness of Dutch recourse laws facilitates identification of housing lock effects. The 2SLS estimate for the effect of negative home equity is a 74-79% decline in mobility, where effects are substantially larger for households with low financial asset holdings or moves over longer distances.

Scope of Project

Subject Terms: Household finance; real estate

JEL Classification:
      D10 Household Behavior: General
      G10 General Financial Markets: General (includes Measurement and Data)
      R20 Urban, Rural, Regional, Real Estate, and Transportation Economics: Household Analysis: General

Geographic Coverage: Netherlands, United States of America

Time Period(s): 1995 – 2011

Universe: Code runs on confidential data that is 25% random sample of all homeowners in the Netherlands. Besides that data is provided plotting simple national statistics for the U.S. and the Netherlands.

Data Type(s): aggregate data; program source code

Methodology

Data Source:

Statistics Netherlands
Federal Reserve Economic Data

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Published Versions

V1 [2022-07-26]

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