Narrow search
Showing 1 - 10 of 317
Cover Image
A Simple Mapping from MPCs to MPXs
Laibson, David I.; Maxted, Peter; Moll, Benjamin - National Bureau of Economic Research - 2022
Standard consumption models assume a notional consumption flow that does not distinguish between nondurable and durable consumption. Such notional-consumption models generate notional marginal propensities to consume (MPC). By contrast, empirical work and policy discussions often highlight...
Persistent link: https://www.econbiz.de/10012814439
Cover Image
Expenditure Visibility and Consumer Behavior : New Evidence
Heffetz, Ori - 2018
Expenditure visibility--the extent to which a household's spending on a consumption category is noticeable to others--is measured in three new surveys, with ~3,000 telephone and online respondents. Visibility shows little change across time (ten years) and survey methods. Four different notions,...
Persistent link: https://www.econbiz.de/10012480813
Cover Image
Does Home Owning Smooth the Variability of Future Housing Consumption?
Paciorek, Andrew - 2010
We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a current home owner's house price covaries positively with housing costs in a future city, changes in the future cost of housing are offset by commensurate changes in wealth...
Persistent link: https://www.econbiz.de/10012462126
Cover Image
Welfare Reform and Family Expenditures : How are Single Mothers Adapting to the New Welfare and Work Regime?
Kaushal, Neeraj - 2006
affect total expenditures in households headed by low-educated single mothers. However, patterns of expenditure did change … significant changes in expenditures on childcare or learning and enrichment activities. This pattern of results suggests that … welfare reform has shifted family expenditures towards items that facilitate work outside the home, but, at least so far, has …
Persistent link: https://www.econbiz.de/10012466037
Cover Image
Life-Cycle Consumption Patterns at Older Ages in the US and the UK : Can Medical Expenditures Explain the Difference?
Banks, James - 2016
In this paper we document significantly steeper declines in nondurable expenditures in the UK compared to the US, in … ownership and expenses, levels and paths of health status, number of household members, and out-of -pocket medical expenditures …
Persistent link: https://www.econbiz.de/10012456166
Cover Image
Health and Mortality Delta : Assessing the Welfare Cost of Household Insurance Choice
Koijen, Ralph - 2011
We develop a pair of risk measures, health and mortality delta, for the universe of life and health insurance products. A life-cycle model of insurance choice simplifies to replicating the optimal health and mortality delta through a portfolio of insurance products. We estimate the model to...
Persistent link: https://www.econbiz.de/10012461333
Cover Image
Expanded GDP for Welfare Measurement in the 21st Century
Hulten, Charles R. - 2019
The information revolution currently underway has changed the economy in ways that are hard to measure using conventional GDP procedures. The information available to consumers has increased dramatically as a result of the Internet and its applications, and new mobile communication devices have...
Persistent link: https://www.econbiz.de/10012480522
Cover Image
Aging, Output Per Capita and Secular Stagnation
Eggertsson, Gauti B. - 2018
This paper re-examines the relationship between population aging and economic growth. We confirm previous research such as Cutler, Poterba, Sheiner, and Summers (1990) and Acemoglu and Restrepo (2017) that show positive correlation between measures of population aging and per-capita output...
Persistent link: https://www.econbiz.de/10012480557
Cover Image
The Effects of Tax Shocks on Output : Not So Large, But Not Small Either
Perotti, Roberto - 2011
In a seminal contribution, Romer and Romer (2010) (RR henceforth) estimate GDP tax multipliers of up to -3 after 3 years. These results have been criticized as implausibly large. For instance, Favero and Giavazzi (2010) (FG henceforth) argue RR's specification cannot be interpreted as a proper...
Persistent link: https://www.econbiz.de/10012461871
Cover Image
The Contribution of Highways to GDP Growth
Fraumeni, Barbara M. - 2009
-interstate, and Local System levels to estimate the contribution of all highways (all public roads) to GDP growth. It presents three …
Persistent link: https://www.econbiz.de/10012463911