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Consumption and House Prices in the Great Recession: Model Meets Evidence

Author

Listed:
  • Kurt Mitman

    (Stockholm University)

  • Gianluca Violante

    (NYU)

  • Greg Kaplan

    (Princeton University)

Abstract

In this paper we revisit the consumption-house price nexus both empirically (with new data) and structurally (with an equilibrium model).

Suggested Citation

  • Kurt Mitman & Gianluca Violante & Greg Kaplan, 2015. "Consumption and House Prices in the Great Recession: Model Meets Evidence," 2015 Meeting Papers 275, Society for Economic Dynamics.
  • Handle: RePEc:red:sed015:275
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    File URL: https://economicdynamics.org/meetpapers/2015/paper_275.pdf
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    Cited by:

    1. Serdar Ozkan & Kurt Mitman & Fatih Karahan & Aaron Hedlund, 2017. "Monetary Policy, Heterogeneity, and the Housing Channel," 2017 Meeting Papers 1610, Society for Economic Dynamics.
    2. Michael Bailey & Ruiqing Cao & Theresa Kuchler & Johannes Stroebel, 2016. "Social Networks and Housing Markets," NBER Working Papers 22258, National Bureau of Economic Research, Inc.
    3. Rios-Rull, Jose-Victor & Huo, Zhen, 2016. "The Great Recession and Financial Shocks," Economic Policy Paper 16-3, Federal Reserve Bank of Minneapolis.
    4. Midrigan, Virgiliu & Philippon, Thomas, 2011. "Household Leverage and the Recession," CEPR Discussion Papers 8381, C.E.P.R. Discussion Papers.
    5. repec:eee:macchp:v2-255 is not listed on IDEAS
    6. David Berger & Veronica Guerrieri & Guido Lorenzoni & Joseph Vavra, 2015. "House Prices and Consumer Spending," NBER Working Papers 21667, National Bureau of Economic Research, Inc.
    7. repec:eee:macchp:v2-1427 is not listed on IDEAS
    8. Mian, A. & Sufi, A., 2016. "Who Bears the Cost of Recessions? The Role of House Prices and Household Debt," Handbook of Macroeconomics, Elsevier.
    9. Li, Jieying & Zhang, Xin, 2017. "House Prices, Home Equity, and Personal Debt Composition," Working Paper Series 343, Sveriges Riksbank (Central Bank of Sweden).
    10. Virgiliu Midrigan & Denis Gorea, 2017. "Liquidity Constraints in the U.S. Housing Market," 2017 Meeting Papers 802, Society for Economic Dynamics.

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