Data and Code for: "Home Prices Expectations and Spending: Evidence From a Field Experiment"
Principal Investigator(s): View help for Principal Investigator(s) Felix Chopra, Frankfurt School of Finance; Christopher Roth; Johannes Wohlfart, University of Cologne
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
|---|---|---|---|
| replication | 06/10/2025 07:44:AM |
Project Citation:
Chopra, Felix, Roth, Christopher, and Wohlfart, Johannes. Data and Code for: “Home Prices Expectations and Spending: Evidence From a Field Experiment.” Nashville, TN: American Economic Association [publisher], 2025. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-06-16. https://doi.org/10.3886/E217262V1
Project Description
Summary:
View help for Summary
We conduct a field experiment with US households to study how expectations about long-run home price growth shape spending decisions. We exogenously vary survey respondents’ expectations by providing different expert forecasts. Homeowners’ spending, measured using rich home-scanner data, is inelastic to home price expectations. By contrast, renters reduce their spending when expecting higher home price growth. These patterns reflect positive endowment effects for owners from higher future wealth and negative income effects for both groups due to higher future housing costs. Our study highlights consequences of asset price growth and long-term expectations about the economy for household behavior.
Scope of Project
Subject Terms:
View help for Subject Terms
Expectations;
consumption;
housing
JEL Classification:
View help for JEL Classification
C93 Field Experiments
D14 Household Saving; Personal Finance
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
C93 Field Experiments
D14 Household Saving; Personal Finance
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Related Publications
Published Versions
Report a Problem
Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.
This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.