OECD Journal: Economic Studies

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OECD Economic Studies
Frequency :
Annuel
ISSN :
1995-2856 (en ligne)
ISSN :
1995-2848 (imprimé)
DOI :
10.1787/19952856
Cacher / Voir l'abstract

OECD Journal: Economic Studies publishes articles in the area of economic policy analysis, applied economics and statistical analysis, generally with an international or cross-country dimension. While it draws significantly on economic papers produced by the Economics Department and other parts of the OECD Secretariat for the Organisation’s intergovernmental committees, the submission of articles produced by non-OECD authors is encouraged. We also welcome comments on articles previously published in the journal. Now published as part of the OECD Journal package.

Article
 

Residential Mobility and Public Policy in OECD Countries You do not have access to this content

 
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Auteur(s):
Aida Caldera Sánchez, Dan Andrews
Date de publication
09 déc 2011
Pages
7
Bibliographic information
N°:
7,
Volume:
2011,
Numéro:
1
Pages
1–22
DOI
10.1787/eco_studies-2011-5kg0vswqt240

Cacher / Voir l'abstract

Residential mobility is closely tied to the functioning of housing markets and has important implications for labour mobility and the efficient allocation of resources across the economy. This paper analyses patterns of residential mobility across OECD countries and the role of housing policies in enhancing or hampering residential mobility. Based on cross-sectional household data for 25countries, the results suggest that differences in residential mobility across countries are partially related to differences in public policies. After controlling for household and country- specific characteristics, residential mobility is higher in countries with lower transaction costs, more responsive housing supply, lower rent controls and tenant protection. Residential mobility tends also to be higher in environments with greater access to credit, suggesting that financial deregulation – by lowering borrowing costs and facilitating access to mortgage finance – facilitates mobility. This cross- country evidence is supported by city and state-level evidence for the United States.

JEL classification: R23, R31, R21, R38, H20.
Keywords: Housing markets, residential mobility, transaction costs, rental market regulations