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to unconventional fiscal policy. We use survey and scanner data on household consumption expenditures and their perceived … aggregate consumption spending by 4.4 percent on impact. …
Persistent link: https://www.econbiz.de/10015462651
Financial repression lowers the return on government debt and contributes, all else equal, towards its liquidation. However, its full effect on the debt-to-GDP ratio hinges on how repression impacts the economy at large because it alters investment and saving decisions. We develop and estimate a...
Persistent link: https://www.econbiz.de/10014559288
Persistent link: https://www.econbiz.de/10009553628
This paper studies how and why consumers respond to unexpected, transitory income shocks. In a randomized control trial, I elicit marginal propensities to consume (MPC) out of different hypothetical income shock scenarios, varying the payment mode, the shock size, and the source of income. The...
Persistent link: https://www.econbiz.de/10014320569
), translate into larger effects of consumption. This result is more pronounced for contractionary shocks, in line with …
Persistent link: https://www.econbiz.de/10011963152
As part of Germany’s fiscal response to the Covid-19 pandemic, parents received three payments totalling e450 per child. Randomization in the payment dates and daily scanner data allow us to identify the effects of these transfers on household spending. We find a significant but small spending...
Persistent link: https://www.econbiz.de/10013268076
We follow Fuhrer (2000) in estimating via Maximum Likelihood a log-linear consumption function on UK data. In doing so … habits look more internal in that they appear indexed to past average consumption of only a subset of (peer) consumers in the … economy, rather than total past per capita consumption. We also find that for about one seventh of UK consumers, current …
Persistent link: https://www.econbiz.de/10011517872
This paper investigates the impact of peer observation on the consumption decisions of rural households in Thailand … deviation in their decisions. Thus, we find evidence for conformity. Further, we find that individual's consumption choice is …
Persistent link: https://www.econbiz.de/10011434386
We examine the relationship between household incomes and the biodiversity footprints of consumption in the United …-output accounting methods, we calculate consumption-based (i) land-use and (ii) species-loss footprints as proxies for overall … but began increasing again thereafter, as rising consumption pressure outpaced technological improvements. To characterize …
Persistent link: https://www.econbiz.de/10015456524
Persistent link: https://www.econbiz.de/10011575033