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Federal Reserve Bank of Chicago
Chicago Fed Letter
How much has house lock affected labor mobility and the unemployment rate?
Daniel Aaronson
Jonathan Davis
Abstract

This article explores new evidence from the U.S. Census Bureau’s Survey of Income and Program Participation (SIPP) on the extent to which “house lock”--the reluctance of households to sell their homes in a declining house price environment--has contributed to the elevated unemployment rate since 2008.


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Daniel Aaronson & Jonathan Davis, "How much has house lock affected labor mobility and the unemployment rate?" , Federal Reserve Bank of Chicago, Chicago Fed Letter, issue Sep, 2011.
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Keywords: Labor policy ; Unemployment
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