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The Effect of Unconventional Fiscal Policy on Consumption Expenditure
D'Acunto, Francesco - 2016
Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We exploit a unique natural experiment for an empirical test of the effectiveness of...
Persistent link: https://www.econbiz.de/10012984119
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Non-Durable Consumption and Housing Net Worth in the Great Recession : Evidence from Easily Accessible Data
Kaplan, Greg - 2016
housing net worth on household expenditures during the Great Recession. Their widely-cited estimates are based on proprietary … specification on our data, we obtain values for the elasticity of expenditures to the housing net worth shock that are virtually … conclusions about the separate roles of house prices and initial housing exposure/leverage for the drop in expenditures. Moreover …
Persistent link: https://www.econbiz.de/10012992649
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The Permanent Income Hypothesis and Consumption Durability : Analysis Based on Japanese Panel Data
Hayashi, Fumio - 2021
commodity groups. Consumption is a distributed lag function of expenditures, and the utility function is additively separable in … each commodity group, expected change in expenditures is correlated neither with past expenditure changes on other …
Persistent link: https://www.econbiz.de/10013218128
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Effects of Job Entry Restrictions on Economic Integration - Evidence for Recent Ethnic German Immigrants
Brenner, Jan - 2008
We analyze the impact of job entry restrictions on the economic integration of recent ethnic German immigrants, using twelve waves of the German Socio-Economic Panel.The German labor market closely ties job accessibility to vocational education which likely hampers the transferability of foreign...
Persistent link: https://www.econbiz.de/10014224379
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The Dynamics of Car Sales : A Discrete Choice Approach
Adda, Jerome - 2006
Mankiw [1982] explores the Permanent Income Hypothesis implication that durable expenditures follow an ARMA(1 …,1) representation. He finds that durable expenditures are represented by an AR(1) process which implies that the rate of depreciation of …
Persistent link: https://www.econbiz.de/10012783955
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Mortgage Rates, Household Balance Sheets, and the Real Economy
Keys, Benjamin J. - 2014
This paper investigates the impact of lower mortgage rates on household balance sheets and other economic outcomes during the housing crisis. We use proprietary loan-level panel data matched to consumer credit records using borrowers' Social Security numbers, which allows for accurate...
Persistent link: https://www.econbiz.de/10013046153
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Patterns of Trade in the Market for Used Durables : Theory and Evidence
Porter, Robert H.; Sattler, Peter - 2022
The consumption value of a durable good diminishes as it ages due to physical deterioration and consumers' preference for the new. We develop a model of consumer specialization and trade in the market for used durables based on imperfect substitutability. Imperfect substitutability across...
Persistent link: https://www.econbiz.de/10013308470
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Designing Dynamic Subsidies to Spur Adoption of New Technologies
Langer, Ashley; Lemoine, Derek - 2021
We analyze the efficient subsidy for durable good technologies. We theoretically demonstrate that a policymaker faces a tension between intertemporally price discriminating by designing a subsidy that increases over time and taking advantage of future technological progress by designing a...
Persistent link: https://www.econbiz.de/10013224980
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Rent-Sharing, Holdup, and Wages : Evidence from Matched Panel Data
Card, David - 2010
When wage contracts are relatively short-lived, rent sharing may reduce the incentives for investment since some of the returns to sunk capital are captured by workers. In this paper we use a matched worker-firm data set from the Veneto region of Italy that combines Social Security earnings...
Persistent link: https://www.econbiz.de/10013140998
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Wages and Informality in Developing Countries
Meghir, Costas - 2012
It is often argued that informal labor markets in developing countries promote growth by reducing the impact of regulation. On the other hand informality may reduce the amount of social protection offered to workers. We extend the wage-posting framework of Burdett and Mortensen (1998) to allow...
Persistent link: https://www.econbiz.de/10013101278