Sergey Alexeev, 09 November 2019

Despite the extensive literature on intergenerational mobility, few studies have investigated the effects of non-monetary income from housing, or ‘imputed rent’, on intergenerational income mobility. This column demonstrates the significance of such an omission. Using national panel data sets for Australia, the US, and Germany, it finds that only Australia sees a noticeable reduction in mobility when imputed rent is accounted for in the measure of income. The findings challenge Australia’s basic claim of providing equality of opportunity. 

Laurent Gobillon, Matthieu Solignac, 21 January 2016

Assimilation of migrants can be measured in various ways, one such measure being their access to the homeownership market. This column argues that the evolution of homeownership rates of immigrants is a complex process, with important selection effects. In France, the homeownership rate among northern African immigrants lags behind not only that of natives, but also southern European immigrants. A possible reason is discrimination against northern African immigrants not only on the labour market, but also on the credit and housing markets.

Laurent Gobillon, Matthieu Solignac, 06 December 2015

We investigate the difference in homeownership rates between natives and first-generation immigrants in France, and how this difference evolves over the 1975-1999 period, by using a large longitudinal dataset. We find that the homeownership gap is large and has increased. Entries into the territory have a large negative effect on the evolution of homeownership rates for immigrants. Although entrants have on average better education than people staying in the territory for the entire period (i.e. stayers), they are younger and thus at an earlier stage in the wealth accumulation process. They are also located in large cities, where the homeownership rate is lower, and the returns to their characteristics are lower than those for stayers. 

Stephen Ross, 02 September 2014

The subprime lending crisis in the US triggered a broad financial panic that lead to the global recession. Domestically, it meant bankruptcy and disaster for many households. This column analyses racial discrimination in subprime lending. Careful estimation of a detailed dataset reveals across-lender effects to have substantially disadvantaged black and Hispanic borrowers.

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