Oswald, Andrew J. (1996) A conjecture on the explanation for high unemployment in the industrialized nations: part 1. Working Paper. Coventry: University of Warwick, Department of Economics. (Warwick economic research papers.

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Abstract

The paper conjectures that the high unemployment of the Western economies has been produced by the decline of the private house-rental market and the rise of home-ownership. Evidence is provided for the developed nations, the states of the USA, and the regions of the UK, Italy, France and Sweden. Although its calculations should be viewed as tentative, the paper's results imply that a 10 percentage point rise in the owner-occupation rate is associated with an increase of approximately 2 percentage points in the unemployment rate. This would be sufficient to explain a significant part of the rise in joblessness in the industrialized countries.

Item Type:	Working or Discussion Paper (Working Paper)
Subjects:	H Social Sciences > HD Industries. Land use. Labor
Divisions:	Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH):	Unemployment -- Developed countries, Home ownership -- Developed countries, Right of property -- Developed countries, Developed countries -- Economic conditions
Series Name:	Warwick economic research papers
Publisher:	University of Warwick, Department of Economics
Place of Publication:	Coventry
Date:	December 1996
Number:	No.475
Number of Pages:	42
Status:	Not Peer Reviewed
Access rights to Published version:	Open Access
Funder:	Leverhulme Trust (LT)
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URI:	http://wrap.warwick.ac.uk/id/eprint/1664

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