This paper estimates the effect of home ownership on individuals' unemployment. Because of higher moving costs, home owners will be less willing than renters to relocate for work and could therefore face longer unemployment spells. Estimation is complicated by the endogeneity of ownership, as owners will have different abilities, preferences, and job prospects than renters. I instrument for home ownership using a preference shifter from the worker's childhood environment. The results indicate that home ownership is a significant hindrance to mobility, and home owners suffer longer unemployment spells because of it.

中文翻译：

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住房所有权是劳动力市场的摩擦

本文估计了房屋所有权对个人失业的影响。由于较高的搬迁成本，房主将比租房者不愿搬家去工作，因此可能面临更长的失业期。所有权的内生性使估算工作变得复杂，因为所有者与出租人相比将具有不同的能力，偏好和工作前景。我使用从童年时代开始的偏好转换工具来衡量房屋所有权。结果表明，房屋所有权严重阻碍了流动性，因此，房屋所有者遭受更长的失业期。