章节

失业对抵押贷款违约的影响:改进的劳动力市场困境度量

摘要

城市的一个突出特点是住房与劳动力市场之间的空间关系。城市从业者的就业地或者就业场所与他们的居住场所之间的空间分离(职住分离)是研究城市的一个非常重要的方面。这种分离在微观层面上是理解和掌握住房与劳动力市场之间相互作用的关键之一。现有实证研究忽视了工作场所与住所位置之间的空间依存性,而这个忽视使得实证研究往往得不出就业岗位流失对住房抵押品赎回权丧失的效应的理论预期结论。本文利用人口普查区之间的成对工作-住房通勤数据,提出就业岗位流失脆弱性指数,度量空间上分离的住房市场与劳动力市场之间的关系。在解决了内生性和测量误差问题后,本文发现就业岗位流失对做出抵押品赎回权丧失的决定起着重要作用,尤其是在出现负资产(住房资不抵债)的情况下。本文的分析结果相当稳健,采用不同数据、不同估计量和不同变量指标进行回归,得出的估计结果一致且具说服力。

关键词

作者

牛毅
丁成日

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失业对抵押贷款违约的影响:改进的劳动力市场困境度量

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