期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2016
出版社：European Central Bank
摘要：We exploit regional variation in US house price uctuations during the boom-bust cycleof the 2000s to study the impact of the housing cycle on young Americanschoices related toeducation and employment. We nd that in MSAs which experienced large increases in houseprices between 2001 and 2006, young adults were substantially more likely to forego a highereducation and join the workforce, lowering skill formation. During the bust years, the young,especially those without higher education, were more likely to be unemployed in areas whichexperienced higher declines in house prices.
