An Empirical Study On The Impact Of Self-owned Housing On Unemployment

Many positive externalities of homeownership,such as education,life satisfaction,child outcomes and health,low crime rates and social stability,are attracting individual and households to buy houses,rising to a country measures to property policies.While negative externalities of homeownership,especially influence on the employment,has raised attention in the public gradually.The studies about skill mismatches of technical advancement and educational mismatches of educational expansion are becoming popul ar.The studies contains mismatches influence on wage,satisfaction and on-the-job.This paper studies the effect of homeownership on unemployment,and brings in the skill mismatch and the educational mismatch as the moderator to discuss their enhancement or inhibition for homeownership and unemployment.At the same time,this paper considers the endogeneity of the models and resolve it through instrumental variables.According to the questionnaire datas of Chinese General Social Survey(2015)and some macro datas that can reflect the regional characteristics and affect the unemployment rate,this paper approves and analyses the effect of probability of homeownership on unemployment with probit regression model and eprobit regression model in Stata 15.1 which can fit models including endogenous sample selection.Later this paper brings in the skill mismatch and the educational mismatch as the control variables to discuss control variable based on this model.Finally,this paper brings in the interactive terms between the homeownership and the skill mismatch and between the homeownership and the educational mismatch to discuss their enhancement or inhibition for homeownership and unemployment.The research results show that:(1)homeownership is negatively correlated with the level of probability unemployment.Which means homeowners are less likely to be unemployed than others;(2)educational match can moderate the relationship betweenhomeownership and unemployment probability,while means educational mismatch can remarkably inhibit the negative correlation that we find between homeownership and unemployment;(3)skill match can also moderate the relationship between homeownership and unemployment probability,while means skill mismatch can remarkably inhibit the negative correlation that we find between homeownership and unemploym ent;(4)there is heterogeneity in the effect of homeownership on unemployment probability.In the labours of educational mismatch and skill mismatch samples,homeowners are more likely to be unemployed.While In the labours of educational match and skill match samples,homeowners are less likely to be unemployed.Finally,this paper summarizes the theoretical mechanisms and research results,and puts forward reasonable policy suggestions according to the results of empirical analysis and the actual situation of our country from the macro and micro levels.