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Homeownership and Attention to Inflation: Evidence from Information Treatments

Author

Listed:
  • Jessica Piccolo

    (University of Padova)

  • Yuriy Gorodnichenko

    (University of California Berkeley)

Abstract

This paper examines how homeownership status shapes attention to infla- tion and its impact on durable consumption. Using randomized controlled trials on U.S. households (2021–2023), we document systematic heterogeneity in re- sponses to inflation-related information. Homeowners exhibit greater baseline awareness and update their expectations less than renters. Exploiting exoge- nous variation in inflation expectations induced by the treatments, we find that homeowners adjust durable spending significantly, whereas renters do not. These results highlight homeownership as a key factor in the formation of inflation ex- pectations and their influence on economic behavior.

Suggested Citation

  • Jessica Piccolo & Yuriy Gorodnichenko, "undated". "Homeownership and Attention to Inflation: Evidence from Information Treatments," "Marco Fanno" Working Papers 0317, Dipartimento di Scienze Economiche "Marco Fanno".
    • Handle: RePEc:pad:wpaper:0317
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