Labor Demand Shocks and Housing Prices across the US: Does One Size Fit All?

Arbeitspapier

This paper examines whether effects of labor demand shocks on housing prices vary across time and space. Using data on 321 US metropolitan statistical areas, we estimate the medium- and long-run effects of increases in metropolitan statistical area-level employment and total labor income on housing prices. Instrumental variable estimates for different time periods, and also for coastal, non-coastal, large, and small metropolitan statistical areas are obtained using the shift-share instrument. Results suggest that labor demand shocks have positive effects on housing prices. However, these effects appear to vary across time periods and across different types of metropolitan statistical areas.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IZA Discussion Papers ; No. 11636

Classification and Topics

• Classification: Wirtschaft ; Labor Demand ; Economic Development: Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure ; Size and Spatial Distributions of Regional Economic Activity ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics ; Housing Supply and Markets
• Subject: housing prices ; labor demand shocks ; labor market ; housing market

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Osei, Michael J. ; Winters, John V.
• Event: Veröffentlichung
• (who): Institute of Labor Economics (IZA)
• (where): Bonn
• (when): 2018

Further information

• Handle: http://hdl.handle.net/10419/185096
• Last update: 10.03.2025, 11:42 AM CET