Table 2. The association between the unemployment rate and home and car ownership.

	Home Ownership		Car Ownership
	OLS	FE	OLS	FE
	(1)	(2)	(3)	(4)
Unemployment rate	-0.006**	-0.005**	-0.005	-0.007***
	[0.003]	[0.002]	[0.004]	[0.003]
Relationship Status
Cohabiting	-0.140***		-0.070***
	[0.013]		[0.016]
Single	-0.175***		-0.173***
	[0.014]		[0.018]
Age
<20	-0.117***		-0.021
	[0.026]		[0.030]
20–24	-0.154***		0.027**
	[0.017]		[0.011]
25–29	-0.117***		0.071***
	[0.020]		[0.023]
30–34	-0.078***		0.013
	[0.016]		[0.014]
Race/Ethnicity
Black	-0.090***		-0.108***
	[0.011]		[0.012]
Hispanic	-0.026		-0.007
	[0.015]		[0.017]
Other	-0.097***		-0.055**
	[0.027]		[0.024]
Immigrant	0.024		0.069***
	[0.022]		[0.009]
Education
Less than HS	-0.194***		-0.141***
	[0.025]		[0.026]
HS	-0.167***		-0.048**
	[0.021]		[0.018]
Some college	-0.130***		0.007
	[0.024]		[0.020]
Income to needs ratio
0–100	-0.306***		-0.342***
	[0.014]		[0.020]
100–199	-0.242***		-0.119***
	[0.015]		[0.019]
200–399	-0.133***		-0.026*
	[0.019]		[0.014]
First birth	-0.030***		-0.018**
	[0.010]		[0.009]
N—mother-years	15,677	15,677	15,716	15,716
N—changers		946		1,677
% change in outcome due to a 5pp increase in UR	-12.5%	-10.4%	-3.8%	-5.3%

Note: OLS = ordinary least squares. FE = individual fixed-effects. i) The sample is pooled and includes all mothers in waves 2–5 who report information on assets; ii) Models in columns 1 and 3 control for mother individual characteristics, baseline city and wave fixed-effects, and errors are clustered at the baseline city and mother levels (see Eq 1); iii) Models in columns 2 and 4 control for wave fixed-effects and mother specific fixed-effects (see Eq 2); iv) Standard errors are shown in brackets; v) The predicted percent change in home and car ownership is calculated based on a 5 percentage point increase in the unemployment rate (UR) in year 9 (wave 5).

*** p<0.01

** p<0.05

* p<0.1