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The effect of macroeconomic uncertainty on household spending
Coibion, Olivier; Georgarakos, Dimitris; Gorodnichenko, … - 2021
Using a new survey of European households, we study how exogenous variation in the macroeconomic uncertainty perceived by households affects their spending decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...
Persistent link: https://www.econbiz.de/10012491975
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Differences in euro-area household finances and their relevance for monetary-policy transmission
Hintermaier, Thomas; Koeniger, Winfried - 2019
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life-cycle incomplete-markets model with a financial asset and...
Persistent link: https://www.econbiz.de/10012133482
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When do remittances facilitate asset accumulation? : the importance of remittance income uncertainty
Amuedo Dorantes, Catalina; Pozo, Susan - 2014
A sizable literature has concluded that remittances impact the expenditure patterns of households. We explore how the uncertainty of remittance income inflows affects the accumulation of human, physical and financial assets of Mexican households, while accounting for the level of transfers from...
Persistent link: https://www.econbiz.de/10010250041
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The causal effects of inflation uncertainty on households' beliefs and actions
Georgarakos, Dimitris; Gorodnichenko, Yuriy; Coibion, … - 2024
We implement a survey-based randomized information treatment that generates independent variation in the inflation expectations and the uncertainty about future inflation of European households. This variation allows us to assess how both first and second moments of inflation expectations...
Persistent link: https://www.econbiz.de/10015069388
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Risk sharing and commuting among US federal states
Jüßen, Falko (contributor) - 2008
Financial markets provide imperfect insurance of labor income risk. However, workers can partly insure against labor … market risk by commuting to adjacent regions. Since commuters own wage claims to output produced in adjacent regions, the … business cycle in the neighborhood becomes a relevant risk factor at the regional level. In our empirical analysis for US …
Persistent link: https://www.econbiz.de/10003656940
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Demographic uncertainty and generational consumption risk with endogenous human capital
Emerson, Patrick M.; Knabb, Shawn D. - 2018
producing human capital. We also demonstrate that this attenuation effect tends to concentrate generational consumption risk … into an i.i.d. generational consumption shock. In other words, each generation bears all of the risk associated with their …
Persistent link: https://www.econbiz.de/10011803190
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Oportunidades : program effect on consumption, low participation, and methodological issues
Angelucci, Manuela; Attanasio, Orazio P. - 2009
In this paper we estimate the effect of the Mexican conditional cash transfer program, Oportunidades, on consumption, and we explore some issues related to participation to the program and to the estimation of treatment effects. We discuss the comparability of treatment and control areas,...
Persistent link: https://www.econbiz.de/10003902804
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Minimum wage : does it improve welfare in Thailand?
Del Carpio, Ximena V.; Messina, Julián; Sanz de … - 2014
We study the causal impact of the minimum wage on employment and welfare in Thailand using a difference-in-difference approach that relies on exogenous policy variation in minimum wages across provinces. We find that minimum-wage increases have small disemployment effects on female, elderly, and...
Persistent link: https://www.econbiz.de/10010238212
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Targeted business incentives and the debt behavior of households
Di, Wenhua; Millimet, Daniel L. - 2016
The empirical effects of place-based tax incentive schemes designed to aid low income communities are unclear. While a growing number of studies find beneficial effects on employment, there is little investigation into other behaviors of households affected by such programs. We analyze the...
Persistent link: https://www.econbiz.de/10011449546
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Consumption response to Seoul's COVID-19 shopping coupons: evidence from consumer data
Woo, Seokjin; Aum, Sangmin; Kim, Dohyung; Moon, Heyjin; … - 2021
This study measures the extent to which Seoul's COVID-19 shopping coupon program affects individuals' consumption. Unlike other COVID-19-related transfer programs, the Seoul Metropolitan government provides consumption coupons depending on income. We quantify the causal effect of Seoul's program...
Persistent link: https://www.econbiz.de/10012607254