American Dream Delayed: Shifting Determinants of Homeownership

Natalia Khorunzhina, Robert A. Miller

Publikation: KonferencebidragPaperForskning

Resumé

This paper investigates the delay in homeownership and a subsequent reduction in homeownership rate observed over the past decades. We focus on the delay in giving birth to children and increased labor market participation as contributing factors to homeownership dynamics for prime-age female households. We formulate and estimate a dynamic life-cycle model, in which both single and married households can optimally choose homeownership, the number and timing of children and labor supply. Our theoretical model provides a detailed treatment of the economic costs and benefits associated with housing, fertility decisions and labor supply alternatives faced by the individuals over different stages of the life cycle. The delays in giving birth and buying first home arise endogenously.
OriginalsprogEngelsk
Publikationsdato2017
Antal sider37
StatusUdgivet - 2017
BegivenhedConference on Structural Microeconomics 2017 - Yale School of Management. Yale University, New Haven, USA
Varighed: 8 jun. 20179 jun. 2017
http://cowles.yale.edu/conferences/structure-sum17

Konference

KonferenceConference on Structural Microeconomics 2017
LokationYale School of Management. Yale University
LandUSA
ByNew Haven
Periode08/06/201709/06/2017
Internetadresse

Emneord

  • Housing demand
  • Fertility
  • Labor supply

Citer dette

Khorunzhina, N., & Miller, R. A. (2017). American Dream Delayed: Shifting Determinants of Homeownership. Afhandling præsenteret på Conference on Structural Microeconomics 2017, New Haven, USA.
Khorunzhina, Natalia ; Miller, Robert A. / American Dream Delayed : Shifting Determinants of Homeownership. Afhandling præsenteret på Conference on Structural Microeconomics 2017, New Haven, USA.37 s.
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Khorunzhina, N & Miller, RA 2017, 'American Dream Delayed: Shifting Determinants of Homeownership' Paper fremlagt ved Conference on Structural Microeconomics 2017, New Haven, USA, 08/06/2017 - 09/06/2017, .

American Dream Delayed : Shifting Determinants of Homeownership. / Khorunzhina, Natalia; Miller, Robert A.

2017. Afhandling præsenteret på Conference on Structural Microeconomics 2017, New Haven, USA.

Publikation: KonferencebidragPaperForskning

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T1 - American Dream Delayed

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AU - Khorunzhina, Natalia

AU - Miller, Robert A.

PY - 2017

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N2 - This paper investigates the delay in homeownership and a subsequent reduction in homeownership rate observed over the past decades. We focus on the delay in giving birth to children and increased labor market participation as contributing factors to homeownership dynamics for prime-age female households. We formulate and estimate a dynamic life-cycle model, in which both single and married households can optimally choose homeownership, the number and timing of children and labor supply. Our theoretical model provides a detailed treatment of the economic costs and benefits associated with housing, fertility decisions and labor supply alternatives faced by the individuals over different stages of the life cycle. The delays in giving birth and buying first home arise endogenously.

AB - This paper investigates the delay in homeownership and a subsequent reduction in homeownership rate observed over the past decades. We focus on the delay in giving birth to children and increased labor market participation as contributing factors to homeownership dynamics for prime-age female households. We formulate and estimate a dynamic life-cycle model, in which both single and married households can optimally choose homeownership, the number and timing of children and labor supply. Our theoretical model provides a detailed treatment of the economic costs and benefits associated with housing, fertility decisions and labor supply alternatives faced by the individuals over different stages of the life cycle. The delays in giving birth and buying first home arise endogenously.

KW - Housing demand

KW - Fertility

KW - Labor supply

KW - Housing demand

KW - Fertility

KW - Labor supply

M3 - Paper

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Khorunzhina N, Miller RA. American Dream Delayed: Shifting Determinants of Homeownership. 2017. Afhandling præsenteret på Conference on Structural Microeconomics 2017, New Haven, USA.