主 题: Relative Housing Wealth and Labor Market Behavior (相对住房财富与劳动市场行为)
内容简介: his paper analyzes the effect of relative housing wealth on labor supply. Using China's housing boom as a natural experiment, we examine this question empirically and find that an appreciation of relative housing wealth significantly reduces average working hours. We also find that this reduction is mainly driven by female homeowners. Our results indicate that the effects of relative housing wealth vary across education backgrounds, marital status, and employment sectors; we ultimately find the effect to be more pronounced among female homeowners who are less-educated, married, and self-employed. A set of robustness checks corroborate the validity of our identification strategies and test the sensitivity of the results. In addition to explaining the empirical link between relative housing wealth and labor supply, this study improves our understanding of the effect of wealth fluctuations on economic behavior.
相对住房财富与劳动行为本文探讨了“相对住房财富”对家庭劳动供给的影响。利用近年来中国房价快速增长的自然实验，本文实证检验了这一问题。研究结果表明：首先，相对住房财富的膨胀将显著降低住房所有者的工作时间，即中国显著存在负向住房“相对财富效应”，且该负向效应主要是女性家庭成员的工作时间减少所产生的；其次，相对住房财富对劳动时间供给的负向效应会由教育背景、婚姻状况、雇佣关系等因素不同而改变，相对而言，该效应在低教育人群、已婚人群和自我雇佣人群中更为显著；最后，基于不同测度和样本的检验表明上述结果是稳健的。本文的发现不仅揭示了“相对住房财富”对家庭劳动供给之间的现实影响，还有助于加深对财富波动如何影响经济行为的理解。
报告人: 姜先登 副教授
时 间: 2019-04-17 15:00
地 点: 位育楼 117
举办单位: 城市发展研究院 科研部
