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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data

Lusardi, Annamaria; Mitchell, Olivia S. - 2007

We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...

Persistent link: https://www.econbiz.de/10010298384

Confronting the Robinson Crusoe paradigm with household-size heterogeneity

Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - 2008

Modern macroeconomics empirically addresses economy-wide incentives behind economic actions by using insights from the way a single representative household would behave. This analytical approach requires that incentives of the poor and the rich are strictly aligned. In empirical analysis a...

Persistent link: https://www.econbiz.de/10010298407

Confronting the Robinson Crusoe Paradigm with Household-Size Heterogeneity

Koulovatianos, Christos - 2008

Persistent link: https://www.econbiz.de/10012770249

Competitive risk sharing contracts with one-sided commitment

Krueger, Dirk; Uhlig, Harald - 2005

This paper analyzes dynamic equilibrium risk sharing contracts between profit-maximizing intermediaries and a large pool of ex-ante identical agents that face idiosyncratic income uncertainty that makes them heterogeneous ex-post. In any given period, after having observed her income, the agent...

Persistent link: https://www.econbiz.de/10010298298

Does income inequality lead to consumption inequality? Evidence and theory

Krueger, Dirk; Perri, Fabrizio - 2005

Using data from the Consumer Expenditure Survey we first document that the recent increase in income inequality in the US has not been accompanied by a corresponding rise in consumption inequality. Much of this divergence is due to different trends in within-group inequality, which has increased...

Persistent link: https://www.econbiz.de/10010298305

Disentangling the importance of the precautionary saving motive

Kennickell, Arthur; Lusardi, Annamaria - 2005

wealth from the 1995 and 1998 waves of the Survey of Consumer Finances. In this survey, a new question has been designed to … elicit the amount of desired precautionary wealth. This allows us to assess the amount of precautionary accumulation and to … virtually every type of household. However, precautionary savings account for only 8 percent of total wealth holdings. Even …

Persistent link: https://www.econbiz.de/10010298329

Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth

Lusardi, Annamaria; Mitchell, Olivia S. - 2006

We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … retirement with much higher wealth levels and display higher financial literacy than non-planners. Instrumental variables … very little or no wealth. …

Persistent link: https://www.econbiz.de/10010298334

Precautionary saving and the marginal propensity to consume out of permanent income

Carroll, Christopher D. - 2009

stock savers have a target wealth-to-permanent-income ratio; a positive shock to permanent income moves the ratio below its …

Persistent link: https://www.econbiz.de/10010303738

Fiscal policy and MPC heterogeneity

Jappelli, Tullio; Pistaferri, Luigi - 2013

We use responses to survey questions in the 2010 Italian Survey of Household Income and Wealth that ask consumers how …

Persistent link: https://www.econbiz.de/10010326665

On the welfare cost of consumption fluctuations in the presence of memorable goods

Hai, Rong; Krueger, Dirk; Postlewaite, Andrew - 2013

We propose a new classification of consumption goods into nondurable goods, durable goods and a new class which we call memorable goods. A good is memorable if a consumer can draw current utility from its past consumption experience through memory. We construct a novel consumption-savings model...

Persistent link: https://www.econbiz.de/10010327292

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