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House price shocks, windfall gains and hours of work: British evidence*

Henley, Andrew ORCID: 2004. House price shocks, windfall gains and hours of work: British evidence*. Oxford Bulletin of Economics and Statistics 66 (4) , pp. 439-456. 10.1111/j.1468-0084.2004.00088.x

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Do workers adjust hours of work in response to capital gains and losses? This paper investigates this question using British panel data on individual employees from 1992 to 2001. It investigates hours of work adjustments to two sources of capital gain: financial windfalls and real housing wealth gains. Significant reductions in hours are found for both men and women in response, in particular, to housing gains. Men appear to increase hours in response to real housing losses, whereas women reduce hours in response to real housing gains. Evidence on hours of work preferences suggests that observed adjustments are only partial responses.

Item Type: Article
Status: Published
Schools: Business (Including Economics)
Publisher: Wiley-Blackwell
ISSN: 0305-9049
Date of First Compliant Deposit: 4 August 2016
Last Modified: 01 Nov 2022 11:01

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