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An analysis of postwar US consumption and saving
Boskin, Michael J.; Lau, Lawrence J.
Persistent link: https://www.econbiz.de/10000749312
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The Marginal Propensity to Consume in Heterogeneous Agent Models
Kaplan, Greg; Violante, Giovanni L. - National Bureau of Economic Research - 2022
What model features and calibration strategies yield a large average marginal propensity to consume (MPC) in heterogeneous agent models? Through a systematic investigation of models with different preferences, dimensions of ex-ante heterogeneity, income processes and asset structure, we show...
Persistent link: https://www.econbiz.de/10013210041
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Life-Cycle Effects on Consumption and Retirement
Hamermesh, Daniel S. - 1982
The effects on consumption and retirement of characteristics of the life cycle, especially the length of the horizon, are examined. At any given age people will work more and consume less if they expect to live longer. This and other propositions are tested on several sets of data. The Terman...
Persistent link: https://www.econbiz.de/10012478129
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Initial Impacts of the Pandemic on Consumer Behavior : Evidence from Linked Income, Spending, and Savings Data
Bachas, Natalie - 2020
savings. Households across the income distribution all cut spending from March to early April. Since mid April, spending has …
Persistent link: https://www.econbiz.de/10012481470
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The Saving Glut of the Rich and the Rise in Household Debt
Mian, Atif R. - 2020
Rising income inequality since the 1980s in the United States has generated a substantial increase in saving by the top of the income distribution, which we call the saving glut of the rich. The saving glut of the rich has been as large as the global saving glut, and it has not been associated...
Persistent link: https://www.econbiz.de/10012481898
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Check in the Mail or More in the Paycheck : Does the Effectiveness of Fiscal Stimulus Depend on How It Is Delivered?
Sahm, Claudia R. - 2010
Recent fiscal policies, including the 2008 stimulus payments and the 2009 Making Work Pay tax credit, aimed to increase household spending. This paper quantifies the spending response to these policies and examines differences in spending by whether the stimulus was delivered as a one-time...
Persistent link: https://www.econbiz.de/10012462409
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Capital Flows, Consumption Booms and Asset Bubbles : A Behavioural Alternative to the Savings Glut Hypothesis
Laibson, David - 2010
Bernanke (2005) hypothesized that a "global savings glut" was causing large trade imbalances. However, we show that the … global savings rates did not show a robust upward trend during the relevant period. Moreover, if there had been a global … savings glut there should have been a large investment boom in the countries that imported capital. Instead, those countries …
Persistent link: https://www.econbiz.de/10012462896
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Commitment, Risk, and Consumption : Do Birds of a Feather Have Bigger Nests?
Shore, Stephen H. - 2005
We show that incorporating consumption commitments into a standard model of precautionary saving can complicate the usual relationship between risk and consumption. In particular, we present a model where the presence of plausible adjustment costs can cause a mean-preserving increase in...
Persistent link: https://www.econbiz.de/10012467089
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Theoretical Foundations of Buffer Stock Saving
Carroll, Christopher - 2004
"Buffer-stock" versions of the dynamic stochastic optimizing model of saving are now standard in the consumption literature. This paper builds theoretical foundations for rigorous understanding of the main characteristics of buffer stock models, including the existence of a target level of...
Persistent link: https://www.econbiz.de/10012467822
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Commitment Vs. Flexibility
Amador, Manuel - 2003
This paper studies the optimal trade-off between commitment and flexibility in an intertemporal consumption/savings … conditions under which the solution takes a simple threshold form where minimum savings policies are optimal. Our analysis is …
Persistent link: https://www.econbiz.de/10012468543