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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 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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The Timing of Purchases and Aggregate Fluctuations
Leahy, John V.; Zeira, Joseph - 2021
This paper analyzes how the decision of when to buy a durable good affects both non-durable consumption and business cycle dynamics. At the individual level, we show that the timing of durable goods purchases plays an important role in smoothing consumption over time. In the benchmark case, the...
Persistent link: https://www.econbiz.de/10013222960
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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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Migrating natives and foreign immigration : is there a preference for ethnic residential homogeneity?
Andersson, Henrik; Berg, Heléne; Dahlberg, Matz - 2018
In this paper we investigate the migration behavior of the native population following foreign (refugee) immigration …, with a particular focus on examining whether there is support for an ethnically based migration response. If ethnicity is … the mechanism driving the change in natives' migration behavior, our maintained hypothesis is that native-born individuals …
Persistent link: https://www.econbiz.de/10011914098
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The Adverse Effect of the Covid-19 Labor Market Shock on Immigrant Employment
Borjas, George J. - 2020
Employment rates in the United States fell dramatically between February 2020 and April 2020 as the repercussions of the COVID-19 pandemic reverberated through the labor market. This paper uses data from the CPS Basic Monthly Files to document that the employment decline was particularly severe...
Persistent link: https://www.econbiz.de/10012833081
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Labour market entry of non-labour migrants-Swedish evidence
Åslund, Olof; Forslund, Anders; Liljeberg, Linus - 2017
We describe the short- and long-term patterns of labour market entry and integration among Non-Western, predominantly non-labour, immigrants to Sweden. Our main sample considers the 1990-2014 period. The patterns of time to first contact and labour market entry vary with business cycle...
Persistent link: https://www.econbiz.de/10011719086
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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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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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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