RDP 2023-01: The Effect of Credit Constraints on Housing Prices: (Further) Evidence from a Survey Experiment Read me file

This ‘read me’ file contains the details of the supplementary material provided with RDP 2023-01. The ‘rdp-2023-01-graph-data.xlsx’ contains the publically available data used to plot Figures 1-9, B1-B6 and C1-C2. The data used to plot Figures 10-15 are not publically available.

Stata version 16.0 was used. Package fixsort is required.

The survey data is available from Fuster and Zafar (2021) at <https://doi.org/10.1257/pol.20150337>. Download the contents of ‘ReplicationMaterial/data/raw’ from that location and save it to the ‘data/raw’ folder in the RDP replication files, then the Stata do files below will find it.

Open and run RDP_replication_main.do. It calls the programs in the code folder. It creates the following tables:

  • Table1_MainResults.tex
  • Table2_Quintiles.tex
  • Table3_FitComparison.tex
  • Table4_Parameters.tex
  • Appendix_table.tex

It also creates the figures up to Section 8 in the paper (in a different format), plus other figures. The graph data is also produced as part of this but in a less easy-to-use format than the ‘rdp-2023-01-graph-data.xlsx’ file.

Figures in Section 9 use non-publically available data so only the codes are included in the replication files. To run the code on the data run these files in order (located in folder ‘…code/code_for_nonpublic_data’):

  • CompileSIHData.do
  • ConstructYields.do
  • SIH_data_construct.do (creates AUS data graphs)
  • SeparateSIHData.do
  • US_SWISS_ESP_Data.do
  • ModelSimulations.do


Fuster A and B Zafar (2021), ‘The Sensitivity of Housing Demand to Financing Conditions: Evidence from a Survey’, American Economic Journal: Economic Policy, 13(1), pp 231–265.

31 January 2023

Back to abstract