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Low Fertility and the Housing Market: Evidence from Swedish Regional Data

机译:低生育率和住房市场:来自瑞典区域数据的证据

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摘要

The long-term effect of low birth rates is a decline in the population share of children and young adults. How will such changes in age structure affect the housing market? In this article, panel data sets for Swedish municipalities from 1981 to 2006 are used to answer this question. The use of panel data makes it possible to control for the effect of national-level policy shifts and macroeconomic events through the introduction of fixed time effects. The results show that population aging could lead to less rapid house price growth in the first decades of the twenty first century, compared to the last decades of the twentieth century. These results also hold when local population growth, income growth, and educational levels are controlled for.
机译:低出生率的长期影响是儿童和年轻人的人口比例下降。这种年龄结构的变化将如何影响房地产市场?本文使用了1981年至2006年瑞典市政当局的面板数据集来回答此问题。使用面板数据可以通过引入固定时间效应来控制国家级政策转变和宏观经济事件的效应。结果表明,与二十世纪后几十年相比,人口老龄化可能导致二十一世纪前几十年房价增长不那么迅速。当控制当地人口增长,收入增长和教育水平时,这些结果也成立。

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