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Consumer Spending and the Economic Stimulus Payments of 2008
Parker, Jonathan A.; Souleles, Nicholas S; Johnson, David S. - National Bureau of Economic Research (NBER) - 2011
We measure the response of household spending to the economic stimulus payments (ESPs) disbursed in mid-2008, using special questions added to the Consumer Expenditure Survey and variation arising from the randomized timing of when the payments were disbursed. We find that, on average,...
Persistent link: https://www.econbiz.de/10008788769
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Are Americans and Indians More Altruistic than the Japanese and Chinese? Evidence from a New International Survey of Bequest Plans
Horioka, Charles Yuji - National Bureau of Economic Research (NBER) - 2014
This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on...
Persistent link: https://www.econbiz.de/10010951187
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The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data
Souleles, Nicholas S; Agarwal, Sumit; Liu, Chunlin - National Bureau of Economic Research (NBER) - 2007
We use a new panel dataset of credit card accounts to analyze how consumers 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/10005088908
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Insurance in extended family networks
Attanasio, Orazio; Meghir, Costas; Mommaerts, Corina - National Bureau of Economic Research (NBER) - 2015
We investigate partial insurance and group risk sharing in extended family networks. Our approach is based on decomposing income shocks into group aggregate and idiosyncratic components, allowing us to measure the extent to which each is insured, having accounted for public insurance programs....
Persistent link: https://www.econbiz.de/10011240581
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How Individuals Smooth Spending: Evidence from the 2013 Government Shutdown Using Account Data
Shapiro, Matthew D.; Silverman, Dan; Gelman, Michael; … - National Bureau of Economic Research (NBER) - 2015
of the marginal propensity to spend of 0.57. This estimate overstates how consumption responded. To smooth consumption …
Persistent link: https://www.econbiz.de/10011201882
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Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
Coibion, Olivier; Gorodnichenko, Yuriy; Kudlyak, Marianna; … - National Bureau of Economic Research (NBER) - 2014
-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higher …
Persistent link: https://www.econbiz.de/10010950670
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The Economic Stimulus Payments of 2008 and the Aggregate Demand for Consumption
Parker, Jonathan A.; Broda, Christian - National Bureau of Economic Research (NBER) - 2014
aggregate demand of 1.3 percent of consumption in the second quarter of 2008 and 0.6 percent in the third. Spending is …
Persistent link: https://www.econbiz.de/10011265739
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Mortgage Rates, Household Balance Sheets, and the Real Economy
Keys, Benjamin J.; Piskorski, Tomasz; Seru, Amit; Yao, … - National Bureau of Economic Research (NBER) - 2014
drop in mortgage defaults, an increase in new financing of durable consumption (auto purchases) of more than 10% in … relative terms, and an overall improvement in household credit standing. New financing of durable consumption by borrowers with … deleveraging response that can significantly restrict the ability of monetary policy to stimulate these households' consumption …
Persistent link: https://www.econbiz.de/10010951393
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Household Debt: Facts, Puzzles, Theories, and Policies
Zinman, Jonathan - National Bureau of Economic Research (NBER) - 2014
, including new evidence on how borrowing heterogeneity affects the distribution of the opportunity cost of consumption. I also …
Persistent link: https://www.econbiz.de/10010951247
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Riester Pensions in Germany: Design, Dynamics, Targetting Success and Crowding-In
Börsch-Supan, Axel H.; Coppola, Michela; Reil-Held, Anette - National Bureau of Economic Research (NBER) - 2012
Riester pensions are voluntary, but heavily subsidized private pension schemes in Germany. They were designed as a matching defined contribution scheme to fill the emerging "pension gap" that is being generated by the gradually declining generosity of the public pay-as-you-go pensions in...
Persistent link: https://www.econbiz.de/10011227937