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Replication data for: Housing Wealth and Consumption: Evidence from Geographically-Linked Microdata

Version
V0
Resource Type
Dataset
Creator
  • Aladangady, Aditya
Publication Date
2017-11-01
Description
  • Abstract

    Rising home values also raise the cost of living, offsetting their impact on consumption. However, additional home equity collateral can loosen borrowing constraints, increasing spending for households that value their current endowment of housing highly. I use geographically linked microdata to exploit regional heterogeneity in housing markets and identify the causal effect of house price fluctuations on consumer spending. A $1 increase in home values leads to a $0.047 increase in spending for homeowners, but a negligible response for renters. Results reflect large responses among credit constrained households, suggesting looser borrowing constraints are a primary driver of the MPC out of housing wealth.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.20150491 (Text)
Publications
  • Aladangady, Aditya. “Housing Wealth and Consumption: Evidence from Geographically Linked Microdata.” American Economic Review 107, no. 11 (November 2017): 3415–46. https://doi.org/10.1257/aer.20150491.
    • ID: 10.1257/aer.20150491 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-06

Aladangady, Aditya (2017): Replication data for: Housing Wealth and Consumption: Evidence from Geographically-Linked Microdata. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116166