liberalization effects of rent and credit regulation as well as homeownership and austerity policies. Drawing on a long-run time … dampening price increases, while certain homeownership and tenant subsidies and government austerity increase the likelihood of … bubbles. The paper illustrates the logic of rent, credit, homeownership and austerity effects with two case studies. …

In this paper we investigate Oswald's hypothesis according to which higher homeownership rates increase aggregate … following an (exogenous) increase in homeownership rates. We show that (1) Oswald's hypothesis does not always hold as it … depends crucially on the importance of mobility costs; (2) while higher homeownership may harm macroeconomic labour market …

and homeownership. Using an instrumental variable strategy, we find a substantial positive impact of language skills on …