House Prices and Regional Labor Markets

Posted: 21 Mar 1999  

Geraint Johnes

Lancaster University - Management School; Lancaster University

Thomas Hyclak

Lehigh University - The Rauch Center for Business Communication

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Abstract

This paper examines some potentially significant interactions between local housing and labor markets. We use an error correction model with equations explaining the average manufacturing wage, the unemployment rate, the labor force and the average house price in an urban area. Estimates are reported for the Hartford, Houston, Fort Lauderdale and Milwaukee areas using quarterly data for the 1980s. We find some evidence that unemployment and labor force changes affect house prices and that house prices have a significant effect on the size of the labor force.

JEL Classification: J42, R21, R31

Suggested Citation

Johnes, Geraint and Hyclak, Thomas, House Prices and Regional Labor Markets. Annals of Regional Science, Vol. 33, Issue 1, 1999. Available at SSRN: https://ssrn.com/abstract=150652

Geraint Johnes (Contact Author)

Lancaster University - Management School ( email )

Bailrigg
Lancaster, LA1 4YX
United Kingdom
+44 1524 594215 (Phone)
+44 1524 594244 (Fax)

Lancaster University ( email )

Lancaster LA1 4YX
United Kingdom

Thomas Hyclak

Lehigh University - The Rauch Center for Business Communication ( email )

621 Taylor Street
Bethlehem, PA 18015-3117
United States

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