BAFI Research Seminar

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

Using credit report data from two of the three major credit bureaus in the United States, we infer with high certainty whether households move to other labor markets defined by metropolitan areas.  We estimate how moving patterns relate to labor market conditions, personal credit, and  homeownership using panel regressions with fixed effects which control for all constant individual-specific traits.  We interpret the patterns through simulations of a dynamic model of consumption, housing, and location choice.  We find that homeowners with negative home equity move more than other homeowners, in particular when local unemployment growth is high-overall, negative home equity is not an important barrier to labor mobility.  

Fee: [Yes/No/Varies]

Contact Information:
Tedda Nathan
Dept. Administrator
txn2@case.edu
216-368-2040
216-368-6249

Friday, Oct. 4, 2013 from 10:30 a.m. to noon
03 Peter B. Lewis Building
11119 Bellflower Road
Cleveland, OH 44106-7235
United States
Speaker(s): Yuliya Demyanyk, Federal Reserve Bank
Sponsored by: Dept. of Banking & Finance
Demyanyk paper

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