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Title: Manufacturing Decline, Housing Booms, and Non-Employment

Citation Type: Working Paper

Publication Year: 2013

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Abstract: We exploit cross-city variation in manufacturing decline and housing market changes during the 2000s, and jointly estimate their e¤ects on non-employment. Both forces strongly a¤ected non-employment between 2000 and 2007, with the increase from manufacturing decline almost exactly o¤set by reductions attributable to housing. We show that this o¤setting occurred both in the aggregate and at the individual level. Moreover, we show that the housing bust undid the e¤ects of the preceding housing boom, such that over the entire 2000s housing explains little of the aggregate non-employment increase, while manufacturing explains roughly 40 percent.

Url: http://ssrn.com/abstract=2273684

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Authors: Kofi Charles, Kerwin; Hurst, Erik; Notowidigdo, Matthew J

Series Title: Chicago Booth Research Paper

Publication Number: 92

Institution: The University of Chicago

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Data Collections: IPUMS USA

Topics: Housing and Segregation

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