This article develops a microsimulation model of the Australian housing market that has tenure choice as its principal focus. The article sheds light on the role played by relative prices, wealth and borrowing constraints in shaping housing tenure choices. We explore the model's capabilities as...

Cash income is widely recognised as a deficient measure of income, as it takes no account of the contribution of net worth to consumption potential. Housing equity is a particularly important component of net worth. Comprehensive income measures incorporate housing equity by adding its...

The sharp increase in unemployment in the 1990s has focused attention once again on the causes, extent and effects of high and long-term unemployment. This article presents a methodology for estimating the cost, in income terms, that individuals and their families bear as a result of becoming...

The relative cost of owning and renting housing and housing affordability have been clearly established as important determinants of home ownership. But the roles of marital status and history have been largely ignored. In this paper we show that both current marital status and past history...

Oswald hypothesizes that regions and countries with high homeownership rates will experience higher natural rates of unemployment and that rising homeownership in OECD countries since the 1960s provides a key explanation for the rise in the natural rate of unemployment over the same time period....

In this special issue of the AJLE, we bring together eight papers based for the most part on the first wave of HILDA Survey. While longitudinal surveys are like good wines-growing in value (generally) with age-the richness of the HILDA wave 1 data means that we can gain significant new insights...

Wage rigidity and its effects on macroeconomic performance has been a central topic of macroeconomic debate ever since the publication, in 1936,of Keynes’s The General Theory of Employment, Interest and Money. In the General Theory, Keynes summed up ‘classical’ theory as suggesting that...