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:  View help for 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:  View help for Subject Terms Household finance; real estate
JEL Classification:  View help for 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:  View help for Geographic Coverage Netherlands, United States of America
Time Period(s):  View help for Time Period(s) 1995 – 2011
Universe:  View help for 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):  View help for Data Type(s) aggregate data; program source code

Methodology

Data Source:  View help for Data Source
Statistics Netherlands
Federal Reserve Economic Data

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Published Versions

V1 [2022-07-26]

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