Non-durable Consumption and Housing Net Worth in the Great Recession : Evidence from Easily Accessible Data ∗

@inproceedings{Kaplan2016NondurableCA,
  title={Non-durable Consumption and Housing Net Worth in the Great Recession : Evidence from Easily Accessible Data ∗},
  author={Greg Kaplan and Kurt Mitman and Giovanni L. Violante},
  year={2016}
}
  • Greg Kaplan, Kurt Mitman, Giovanni L. Violante
  • Published 2016
In an influential paper, Mian, Rao, and Sufi (2013) exploit geographic variation in housing supply elasticities to measure the effect of changes in the housing share of net worth on total household expenditures during the Great Recession. Their widely-cited estimates are based on proprietary house price data, and use new vehicle registrations as the main proxy for total spending. We revisit their study using different, publicly available data on house prices, and an easily-accessible proxy for… CONTINUE READING