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Household Consumption Through Recent Recessions
Crossley, Thomas F.; Low, Hamish; O'Dea, Cormac - 2011
This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK …
Persistent link: https://www.econbiz.de/10010500198
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Habits, sentiment and predictable income in the dynamics of aggregate consumption
Sommer, Martin - 2001
standard permanent income model with intertemporally separable utility: the sensitivity of consumption to lagged consumer … sentiment and to predictable changes in current income I show that in a habit formation model the sensitivity of consumption … growth to predicted income can be to a large extent reinterpreted as a sluggish response of consumption to news Moreover the …
Persistent link: https://www.econbiz.de/10010293449
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Behavioral nudges prevent student dropouts in the pandemic
Lichand, Guilherme; Christen, Julien - 2021
School closures in the context of COVID-19 have been shown to magnify that problem, with at least seven million additional dropouts worldwide in 2020. Despite efforts from governments around the world to mitigate learning gaps by the time in-person classes return, interventions to motivate...
Persistent link: https://www.econbiz.de/10012513585
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Heterogeneity in the marginal propensity to consume: Evidence from Covid-19 stimulus payments
Karger, Ezra; Rajan, Aastha - 2020
We identify 16,016 recipients of Covid-19 Economic Impact Payments in anonymized transaction-level debit card data from Facteus. We use an event study framework to show that in the two weeks following a sudden $1,200 payment from the IRS, consumers immediately increased spending by an average of...
Persistent link: https://www.econbiz.de/10012429421
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Liquidity constraints of the middle class
Campbell, Jeffrey R.; Hercowitz, Zvi - 2009
The consumption of households with liquid financial assets responds much more to transitory income shocks than the … thereby shortens its effective horizon. Intertemporal substitution over a limited period generates a strong consumption … accumulates assets. Hence, households with more assets have larger consumption responses. We compare a calibrated version of the …
Persistent link: https://www.econbiz.de/10010292143
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Consumption, wealth, and income inequality: A tale of tails
Gaillard, Alexandre; Hellwig, Christian; Wangner, Philipp; … - 2023
We provide evidence that the distributions of consumption, labor income, wealth, and capital income exhibit asymptotic … return heterogeneity lead to a mirror consumption concentration puzzle. We match the cross-sectional data on these four …
Persistent link: https://www.econbiz.de/10014480446
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COVID-19 and public support for the euro
Roth, Felix; Jonung, Lars; Most, Aisada - 2023
The COVID-19 pandemic had disastrous effects on health and economic activity worldwide, including in the Euro Area. The application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary fiscal and monetary response. Using a uniquely...
Persistent link: https://www.econbiz.de/10014551686
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Compulsory Voting and Public Finance
Hodler, Roland - 2010
Conventional wisdom suggests that compulsory voting lowers the influence of specialinterest groups and leads to policies that are better for less privileged citizens, who often abstain when voting is voluntary. To scrutinize this conventional wisdom, I study public goods provision and rents to...
Persistent link: https://www.econbiz.de/10011430085
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Nonlinear household earnings dynamics, self-insurance, and welfare
De Nardi, Mariacristina; Fella, Giulio; Paz Pardo, Gonzalo - 2018
life-cycle model: a canonical earnings process (that includes a persistent and a transitory shock) and a rich earnings …). Allowing for richer earnings dynamics implies a substantially better profit of the evolution of cross-sectional consumption … inequality over the life cycle and of the individual-level degree of consumption insurance against persistent earnings shocks …
Persistent link: https://www.econbiz.de/10012144204
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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Agarwal, Sumit; Liu, Chunlin; Souleles, Nicholas S. - 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 average...
Persistent link: https://www.econbiz.de/10010292101