Is job insecurity a driver of the housing cycle? Some evidence in the Spanish case | Zendy

Philip Arestis | Zendy; Ana Rosa GonzálezMartínez | Zendy

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Is job insecurity a driver of the housing cycle? Some evidence in the Spanish case

Author(s) -

Philip Arestis,

Ana Rosa GonzálezMartínez

Publication year - 2015

Publication title -

panoeconomicus

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.289

H-Index - 14

eISSN - 2217-2386

pISSN - 1452-595X

DOI - 10.2298/pan1501001a

Subject(s) - cointegration , flexibility (engineering) , economics , distributed lag , job insecurity , autoregressive model , quality (philosophy) , labour economics , business cycle , econometrics , macroeconomics , philosophy , management , epistemology , electrical engineering , sense (electronics) , engineering

The aim of this paper is to study a possible connection between the characteristics of the labour market, namely, employment protection and flexibility, and the dynamics of the housing market. More specifically, this contribution analyses whether the poor quality of employment in a given economy could cause the collapse of the housing market and impairs its recovery. In the second stage of our analysis, we provide estimates for Spain over the period 1984-2014. In doing so, the autoregressive distributed lag (ARDL) bounds test for cointegration is employed.

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