NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Housing, Finance and the Macroeconomy

Morris A. Davis, Stijn Van Nieuwerburgh

NBER Working Paper No. 20287
Issued in July 2014

---- Acknowledgements ----

We thank Gilles Duranton, Jack Favilukis, Carlos Garriga, David Kohn, Ralph Koijen, Sydney Ludvigson, Erwan Quintin, and Will Strange for comments and suggestions, and Vadim Elenev for excellent research assistance. 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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