Yan, Zhiyu; Yuan, Yufei; Xue, Yi - In: China finance and economic review : CFER 13 (2024) 1, pp. 43-66
This paper constructs a dynamic model of household consumption decisions and accordingly designs empirical analyses to … infrastructure investment can not only indirectly promote household consumption through the income channel but also directly promote … household consumption expansion through the expectations channel, with a significant "crowding-in" effect. However, the effect …