HOUSING CREDIT AND FEMALE LABOUR SUPPLY:
ASSESSING THE EVIDENCE FROM GREECE
Sarantis E. G. Lolos
Panteion University, Athens
Bank of Greece and University of Athens
This paper brings new evidence on the relationship between housing credit and female labour participation decisions by investigating the possible interdependence between the two variables in the case of Greece. This relationship is analysed through the estimation of a probit model with endogenous regressors using household data of the Income and Living Conditions (EU-SILC) survey for 2008. The empirical results show that mortgage and female labour participation decisions are interrelated. In a broader perspective, the evidence provided in our analysis supports the existence of a finance (housing credit) and real economy activity (female labour supply) nexus.
Key words: J2, D91, J21
JEL classification: Mortgage market, female labour market participation, endogeneity
Acknowledgements: The authors wish to thank Steven Hall, Eugenie Gargana and Heather Gibson for useful comments and suggestions. The authors would like to thank the Hellenic Statistical Authority (EL. STAT.) and especially the Population and Labour Market Statistics Division for providing the data. The views expressed in this paper are those of the authors and not necessarily those of their respective institutions.
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