Housing Collateral, Consumption Insurance and Risk Premia: An Empirical Perspective

Author:

Lustig Hanno N.,Van Nieuwerburgh Stijn

Publisher

Elsevier BV

Reference69 articles.

1. NIPA Table 2.1, Aggregate labor income is the sum of wage and salary disbursements (line 2), other labor income (line 9), and proprietors' income with inventory valuation and capital consumption adjustments (line 10). Transfers is transfer payments to persons (line 16) minus personal contributions for social insurance (line 23);A. Data Appendix Labor Income plus Transfers 1929-2002: Bureau of economic Analysis,2001

2. while the population data are annual. In constructing an annual series for the number of households, we assume that the number of persons per household declines linearly in between the decade observations;Number of Households For 1889-1945: Census (1976), series A335, A2, and A7. Household data are for 1880,1910

3. All codes start by CUUR0000S. Total price index (p a ): All items (code A0). Shelter (p h ): Item rent of primary residence (code EHA). Food (p c ) 1913-2002: Item food (code AF1);Apparel,1913

4. Total Consumption Expenditures (series G470). The observations are for 1909;Aggregate Consumption Total Consumption Expenditures C 1909-1928: Census,1914

5. Rent and Imputed Rent (series G477). The observations are for 1909;Housing Services Consumption C rent 1909-1928: Census,1914

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