Replication data for: Moving to a Job: The Role of Home Equity, Debt, and Access to Credit
- Demyanyk, Yuliya
- Hryshko, Dmytro
- Luengo-Prado, María Jose
- Sørensen, Bent E.
AbstractWe 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.
Is supplement to
DOI: 10.1257/mac.20130326 (Text)
Demyanyk, Yuliya, Dmytro Hryshko, María Jose Luengo-Prado, and Bent E. Sørensen. “Moving to a Job: The Role of Home Equity, Debt, and Access to Credit.” American Economic Journal: Macroeconomics 9, no. 2 (April 2017): 149–81. https://doi.org/10.1257/mac.20130326.
- ID: 10.1257/mac.20130326 (DOI)
Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07