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How much has house lock affected labor mobility and the unemployment rate?
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.
Keywords: Unemployment; Labor policy;
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Chicago Fed Letter
Publication Date: 2011
Issue: Sep
Order Number: 290