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- W3207318148 abstract "In this paper, we first develop a theoretical framework with three types of household: outright homeowners, mortgagors and renters. We then examine empirically how household debt affects the response of labour supply to shocks to income, mortgage interest rates and house prices for each type of household. In line with our framework, we find that negative income shocks lead to lower participation among outright homeowners while increasing mortgagors’ desired hours; surprise rises in interest rates lead to increases in desired hours that are larger the higher is the household’s debt level; and falls in house prices increase mortgagors’ desired hours." @default.
- W3207318148 created "2021-10-25" @default.
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- W3207318148 date "2021-01-01" @default.
- W3207318148 modified "2023-10-16" @default.
- W3207318148 title "Household Debt and Labour Supply" @default.
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- W3207318148 doi "https://doi.org/10.2139/ssrn.3936001" @default.
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