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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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    Cited by:

    1. is not listed on IDEAS
    2. Fiorella De Fiore & Damiano Sandri & James Yetman, 2025. "Household perceptions and expectations in the wake of the inflation surge: survey evidence," BIS Bulletins 104, Bank for International Settlements.

    More about this item

    Keywords

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    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments

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