Open AccessDoes the Rise of Housing Prices Impede Labor Supply? -Evidence from CGSS Data
Author(s) -
Guang Yang,
Jinhua Li
Publication year - 2018
Publication title -
finance and market
Language(s) - English
Resource type - Journals
ISSN - 2424-8401
DOI - 10.18686/fm.v3i2.1116
Subject(s) - wealth effect , consumption (sociology) , economics , china , supply side , survey data collection , quality (philosophy) , labour economics , monetary economics , microeconomics , monetary policy , social science , philosophy , statistics , mathematics , epistemology , sociology , political science , law
Firstly, inspired by the theoretical mechanism of housing prices on consumption and savings, this paper summarizes three kinds of mechanisms of housing prices on labor supply in China: the wealth effect, the mortgage slave effect and the home mortgage effect and then empirically analyzes the influence and heterogeneity of housing prices on the quantity and quality of labor supply using Chinese General Social Survey (CGSS). Finally, to observe the difference of the influences of housing prices on labor supply of different groups, it distinguishes between households with and without houses, young and old groups.