House Prices and Consumer Spending

David Berger, Veronica Guerrieri, Guido Lorenzoni, Joseph Vavra

NBER Working Paper No. 21667
Issued in October 2015, Revised in August 2017

---- Acknowledgments ----

We thank Sasha Indarte and David Argente for excellent research assistance. We would also like to thank Orazio Attanasio, Adrien Auclert, João Cocco, Eduardo Davila, Pascal Noel, Jonathan Parker, Monika Piazzesi, Martin Schneider, Alp Simsek, Chris Tonetti, Gianluca Violante and seminar participants at Harvard, MIT, Rochester, Duke, CREI, Johns Hopkins, Brown, Cambridge CFM, CSEF-CIM-UCL Workshop, Empirical Macro Workshop-Austin, MN Macro Theory Workshop, Maryland, Northwestern, Yale, UCLA, Penn State, SED-Warsaw, EIEF, SITE, Stanford, LSE, LBS, Bocconi, Boston Fed, St. Louis Fed, Kansas City Fed, ASSA, Boston University, Michigan, Berkeley and Booth. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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