Events at CERGE-EI
14:00 | Room 402 | Brown Bag Seminar
Anna Pestova: "Back to School When Times Are Bad? The Role of Housing Frictions."
Presenter: Anna Pestova (
Co-author: Alexander Popov (ECB)
Abstract:
Abstract: College enrollment typically rises during recessions. But are recessions accompanied by a housing bust different? Using US household data, we study whether housing frictions, such as high household leverage, slowed down college enrollment during the U.S. housing bust of 2008-2011. The findings indicate that children of homeowners were less likely to attend college in areas experiencing the steepest housing price declines, compared to renters. Approximately 12,000 potential college students, or 2\% of the local college-age population, did not enroll in college during the peak years of the bust due to housing frictions.
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