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- W649152666 abstract "In Chapter 1, I provide an overview of the relevant literature on the home exit choiceby discussing both reduced-form and structural models. The most promising ap-proaches allow the residential arrangements to be simultaneously chosen with otheraspects such as supply of labor, investment in human capital, etc. Also, the ex-plicit consideration of the intra-family strategic interactions appears to be desirablein models studying the departure from the parental home.In Chapter 2, I use data from the Bank of Italy to provide a descriptive pictureon the home exit patterns in Italy. I first discuss extensively the data and the is-sues related to their use in the analysis of the home exit choice. Then, I provideevidence on the home exit in Italy along two dimensions: (i) a cross-country com-parison showing that Italy has exceptionally large parents-children coresidence rates;and (ii) a cohort-comparison showing that coresidence is increasing among youngergenerations. Finally, based on the descriptive analysis, I estimate a simple reduced-form model of the probability of leaving the parental home.In Chapter 3, I develop a dynamic discrete choice model in which agents simultaneously choose labor supply, residential arrangements and marital status, conditionalon the economic and institutional framework. The model is structurally estimatedwith the Method of Simulated Moments for Italy. It is then exploited to providea quantitative assessment on the role of factors that are considered relevant by theexisting literature. Results suggest that, in Italy, parental transfers act as insuranceagainst unemployment and that higher parental income would delay the exit fromhome. Labor market conditions are also found to be important. Lower wages are infact associated to higher coresidence rates and a 10 percent increase in real wagesis expected to fill the employment gap between North and South. Finally, housingcosts also have a role. A 10 percent subsidy on rents would lower the percentage ofindividuals residing with their parents by 5 p.p., in every age class." @default.
- W649152666 created "2016-06-24" @default.
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- W649152666 date "2009-09-01" @default.
- W649152666 modified "2023-09-27" @default.
- W649152666 title "Home leaving in Italy: Why so late?" @default.
- W649152666 hasPublicationYear "2009" @default.
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