Does consumption respond to predicted increases in cash-hand availability?: Evidence from the Italian "severance pay"
We examine whether Italian household consumption exhibits excess sensitivity to "severance pay", a sizable lump-sum that workers receive at job termination. We find no evidence of excess sensitivity of non-durable expenditure to this anticipated cash-in-hand change.
Year of publication: |
2009
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Authors: | Borella, Margherita ; Fornero, Elsa ; Rossi, Mariacristina |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 105.2009, 1, p. 127-129
|
Publisher: |
Elsevier |
Keywords: | Life-cycle Euler equation Excess sensitivity Severance pay |
Saved in:
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