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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007
We use a new panel dataset of credit card accounts to analyze how consumer 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/10010986371
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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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Wealth, Composition, Housing, Income, and Consumption
Hardin, William; Guo, Sheng - Department of Economics, Florida International University - 2012
significant determinant of consumption. The marginal effects of housing wealth, financial wealth, and income differ substantially … dramatically higher than for households with greater financial wealth. Wealth and its composition affect consumption. …
Persistent link: https://www.econbiz.de/10009652341
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Collaterality and the Housing Wealth Effect
Guo, Sheng - Department of Economics, Florida International University - 2009
broadly, financial assets), which is often interpreted as a larger MPC (Marginal Propensity of Consumption) out of housing … assets. We build a household consumption and portfolio choice model with two risky assets, housing and stocks, whereby … collateral eect on non-durable consumption. …
Persistent link: https://www.econbiz.de/10008532038
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Life-Cycle Consumption and Children
Jørgensen, Thomas H. - Centre for Applied Microeconometrics (CAM), Økonomisk … - 2014
I show that conventional estimators based on the consumption Euler equation, extensively used in studies of … intertemporal consumption behavior, produce inconsistent estimates of the effect of children on consumption if potentially binding … children on consumption using the Panel Study of Income Dynamics (PSID) for the US and high quality Danish administrative …
Persistent link: https://www.econbiz.de/10010743075
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Financial literacy and mortgage equity withdrawals
Duca, John V.; Kumar, Anil - In: Journal of Urban Economics 80 (2014) C, pp. 62-75
Mortgage equity withdrawals (MEW) are correlated with covariates consistent with a permanent income framework augmented for credit-constraints. We assess linkages between MEW and financial literacy/education using the Health and Retirement Study (HRS) and Panel Study of Income Dynamics (PSID)....
Persistent link: https://www.econbiz.de/10010753555
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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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Why Do People Leave Bequests? For Love or Self-Interest? Evidence from a New International Survey of Bequest Plans
Horioka, Charles Yuji - School of Economics, University of the Philippines at … - 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/10010778610
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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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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
without giving rise to high year-on-year volatility in consumption streams or opaque and rigid valuation and smoothing rules …
Persistent link: https://www.econbiz.de/10011252616