NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Housing Wealth Effects: The Long View

Adam M. Guren, Alisdair McKay, Emi Nakamura, Jón Steinsson

NBER Working Paper No. 24729
Issued in June 2018, Revised in November 2018

---- Acknowledgments ----

We would like to thank Massimiliano Cologgi, Hope Kerr, Jimmy Kuo, Jesse Silbert, Xuiyi Song, Yeji Sung, and Sergio Villar for excellent research assistance. We would like to thank Aditya Aladangady, Adrien Auclert, James Cloyne, Masao Fukui, Peter Ganong, Dan Greenwald, Jonathon Hazell, Erik Hurst, Virgiliu Midrigan, Raven Molloy, Pascal Noel, Chris Palmer, Jonathan Parker, Monika Piazzesi, Esteban Rossi-Hansberg, Martin Schneider, Johannes Stroebel, Stijn Van Nieuwerburgh, Joseph Vavra, Gianluca Violante, Ivan Werning, and seminar participants at various institutions and conferences for useful comments. Guren thanks the National Science Foundation (grant SES-1623801) and the Boston University Center for Finance, Law, and Policy. Nakamura thanks the National Science Foundation (grant SES-1056107). Nakamura and Steinsson thank the Alfred P. Sloan Foundation for financial support. The views expressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Minneapolis, the Federal Reserve System, or the National Bureau of Economic Research.

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