NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Locked in by Leverage: Job Search during the Housing Crisis

Jennifer Brown, David A. Matsa

NBER Working Paper No. 22929
Issued in December 2016
NBER Program(s):   CF   LS

This paper examines how housing market distress affects job search. Using data from a leading online job search platform during the Great Recession, we find that job seekers in areas with depressed housing markets apply for fewer jobs that require relocation. With their search constrained geographically, job seekers broaden their search to lower level positions nearby. These effects are stronger for job seekers with recourse mortgages, which we confirm using spatial regression discontinuity analysis. Our findings suggest that housing market distress distorts labor market outcomes by impeding household mobility.

You may purchase this paper on-line in .pdf format from SSRN.com ($5) for electronic delivery.

Access to NBER Papers

You are eligible for a free download if you are a subscriber, a corporate associate of the NBER, a journalist, an employee of the U.S. federal government with a ".GOV" domain name, or a resident of nearly any developing country or transition economy.

If you usually get free papers at work/university but do not at home, you can either connect to your work VPN or proxy (if any) or elect to have a link to the paper emailed to your work email address below. The email address must be connected to a subscribing college, university, or other subscribing institution. Gmail and other free email addresses will not have access.

E-mail:

A non-technical summary of this paper is available in the February 2017 NBER digest.  You can sign up to receive the NBER Digest by email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w22929

Users who downloaded this paper also downloaded* these:
Berger, Turner, and Zwick w22903 Stimulating Housing Markets
Mas and Pallais w22708 Valuing Alternative Work Arrangements
Lee, Shin, and Stulz w22924 Why Does Capital No Longer Flow More to the Industries with the Best Growth Opportunities?
Gihleb and Lang w22927 Educational Homogamy and Assortative Mating Have Not Increased
Molloy, Smith, and Wozniak w20065 Declining Migration within the U.S.: The Role of the Labor Market
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us