Jappelli, Tullio; Pistaferri, Luigi - C.E.P.R. Discussion Papers - 2013
We use responses to survey questions in the 2010 Italian Survey of Household Income and Wealth that ask consumers how much of an unexpected transitory income change they would consume. We find that the marginal propensity to consume (MPC) is 48 percent on average, and that there is substantial...
