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Monetary policy transmission to consumer financial stress and durable consumption

Georgarakos, Dimitris; Tatsiramos, Konstantinos - 2019

We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using … savers. We find symmetric effects on durable consumption, mainly driven by mortgagors with high debt burden or limited access …

Persistent link: https://www.econbiz.de/10012019231

Monetary policy transmission to consumer financial stress and durable consumption

Georgarakos, Dimitris; Tatsiramos, Konstantinos - 2019

Persistent link: https://www.econbiz.de/10012024596

The effects of monetary policy on consumption : workers vs. retirees

Kim, Myunghyun; Song, Sang-yoon - 2021

English Abstract: This paper explores the heterogeneous effects of monetary policy on consumption between workers and … retirees. Using household-level data from the U.S., Italy, Japan and Korea, we first show that the consumption of retirees … in order to study the mechanism of the differential effects on consumption of workers and retirees of monetary policy …

Persistent link: https://www.econbiz.de/10012607046

The intertemporal marginal propensity to consume out of future persistent cash-flows : evidence from transaction data

Druedahl, Jeppe; Jensen, Emil Bjerre; Leth-Petersen, Søren - 2022

to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet … with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity …

Persistent link: https://www.econbiz.de/10013361501

Households' response to the wealth effects of inflation

Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - 2024

consumption and hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to …

Persistent link: https://www.econbiz.de/10014490357

Identifying the depreciation rate of durables from marginal spending responses

Cao, Jin; Cui, Chao; Dinger, Valeriya; Holm, Martin Blomhoff - 2022

This paper presents a novel method to estimate the depreciation rate of durable goods using a combination of identified marginal and average spending shares. We apply our method to Chinese spending responses to disposable income changes induced by monetary policy in 2008-2009. The marginal...

Persistent link: https://www.econbiz.de/10012818789

The life-cycle hypothesis, fiscal policy and social security

Jappelli, Tullio - In: BNL Quarterly Review 58 (2005) 233-234, pp. 173-186

In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that …

Persistent link: https://www.econbiz.de/10010854342

The life-cycle hypothesis, fiscal policy and social security

Jappelli, Tullio - In: Banca Nazionale del Lavoro Quarterly Review 58 (2005) 233-234, pp. 173-186

In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that …

Persistent link: https://www.econbiz.de/10010752552

The Wealthy Hand-to-Mouth

Kaplan, Greg; Violante, Giovanni L; Weidner, Justin - C.E.P.R. Discussion Papers - 2014

The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts), despite owning sizable amounts of illiquid assets (assets that carry a transaction cost, such as housing or retirement accounts). We use survey data on household portfolios for...

Persistent link: https://www.econbiz.de/10011084522

Fiscal Foresight, Limited Information and the Effects of Government Spending Shocks

Fragetta, Matteo; Gasteiger, Emanuel - Unidade de Investigação em Desenvolvimento … - 2012

more than in a VAR (e.g. 2.61 vs. 2.04 for peak multipliers). Furthermore, our evidence suggests that consumption is …

Persistent link: https://www.econbiz.de/10010561319