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The COVID-19 consumption game-changer : evidence from a large-scale multi-country survey

Hodbod, Alexander; Hommes, Cars H.; Huber, Stefanie J.; … - 2021 - Version: 2021-10-17

Prospective economic developments depend on the behavior of consumer spending. A key question is whether private expenditures recover once social distancing restrictions are lifted or whether the COVID-19 crisis has a sustained impact on consumer confidence, preferences, and, hence, spending....

Persistent link: https://www.econbiz.de/10012665880

Advance information and consumption insurance : evidence from panel data

Pedroni, Marcelo; Singh, Swapnil; Stoltenberg, Christian - 2022 - Preliminary, April 15, 2022

We investigate whether US households possess advance information about their future income and what this means for consumption insurance. Based on insights from a theoretical model, we propose a new test to detect advance information, which requires only panel data on consumption and income....

Persistent link: https://www.econbiz.de/10013186823

Idiosyncratic labour income risk and aggregate consumption : an unobserved component approach

Pozzi, Lorenzo - 2007

We investigate the importance of aggregate and consumer-specific or idiosyncratic labour income risk for aggregate consumption changes in the US over the period 1952-2001. Theoretically, the effect of labour income risk on consumption changes is decomposed into an aggregate and into an...

Persistent link: https://www.econbiz.de/10011372981

The time-varying volatility of earnings and aggregate precautionary savings

Pozzi, Lorenzo - 2011

Persistent link: https://www.econbiz.de/10009720736

Macroeconomic disasters and forward-looking consumers : historical evidence and evidence from the Covid-19 pandemic

Pozzi, Lorenzo; Sadaba, Barbara - 2021

Macroeconomic disasters (wars, pandemics, depressions) are characterized by drastic shifts and increased volatility of the aggregate consumption to income ratio. By standard intertemporal budget constraint logic, this ratio is linked to expectations of future income and consumption growth rates....

Persistent link: https://www.econbiz.de/10012511037

SHE can't afford it and HE doesn't want it : the gender gap in the COVID-19 consumption response

Huber, Stefanie J. - 2022

This paper explores whether and why the pandemic differentially altered women and men's consumption behavior. After the 2020 wave of lockdown restrictions were lifted, women reduced consumption more than men. Data on self-reported reasons for consuming less reveals that gender differences in...

Persistent link: https://www.econbiz.de/10013175577

The relationship between entrepreneurship and unemployment in Japan

Stel, Adriaan J. van; Thurik, Adriaan R.; Verheul, Ingrid; … - 2008

rate) and unemployment in Japan for the period between 1972 and 2002. We find that, although Japan’s unemployment rate has … been influenced by specific exogenous shocks, the effects of entrepreneurship on unemployment are not different when … compared to other OECD countries. In the past, small firms in Japan benefited from the protective environment of the keiretsu …

Persistent link: https://www.econbiz.de/10011372966

Idiosyncratic labour income risk and aggregate consumption : an unobserved component approach

Pozzi, Lorenzo - 2007

Persistent link: https://www.econbiz.de/10003609101

Productive government expenditure in monetary business cycle models

Linnemann, Ludger; Schabert, Andreas - 2005

This paper assesses the transmission of fiscal policy shocks in a New Keynesian framework where government expenditures contribute to aggregate production. It is shown that even if the impact of government expenditures on production is small, this assumption helps to reconcile the models'...

Persistent link: https://www.econbiz.de/10011343264

Abolishing GDP

Bergh, Jeroen C. J. M. van den - 2007

Expectations and information about the growth of GDP per capita have a large influence on decisions made by private and public economic agents. It will be argued here that GDP (per capita) is far from a robust indicator of social welfare, and that its use as such must be regarded as a serious...

Persistent link: https://www.econbiz.de/10011372528