Financial Market Imperfections and Home Ownership: A Comparative Study

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

Abstract: We explore the determinants of the international pattern of homeownership using the Luxembourg Income Study (LIS), a collection of microeconomic data on fourteen OECD countries. In most of these countries the cross-section is repeated over time. This allows us to construct a truly unique international dataset on over 400,000 households. The dataset also includes selected demographic variables (carefully matched between the different surveys). After controlling for individual-country effects, cohort effects and calendar time effects, we find strong evidence that different downpayment ratios affect the age-profile of housing tenure, particularly for the young.

Keywords: homeownership; financial markets (search for similar items in EconPapers)
Date: 2000-07-01, Revised 2000-12-01
New Economics Papers: this item is included in nep-mfd
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Published in European Economic Review, October 2003, vol. 47, issue 5, pages 857-875

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Related works:
Journal Article: Financial market imperfections and home ownership: A comparative study (2003)
Working Paper: Financial Market Imperfections and Home Ownership: A Comparative Study (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:sef:csefwp:44

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