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Can Consumers Distinguish Persistent from Transitory Income Shocks?
Druedahl, Jeppe - 2018
We study whether households can distinguish persistent from transitory income shocks, and the implications for consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component of its income process from actual income realizations...
Persistent link: https://www.econbiz.de/10012928282
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Trade-off between consumption growth and inequality : theory and evidence for Germany
Xie, Runli - 2009
This paper examines the structure and evolution of consumption and consumption growth inequality. Once heterogeneous … agents relate their neighbors' consumption to their own, consumption volatility and inequality are affected. The relationship … predicted between the group average consumption growth and within-group growth inequality was shown as only slightly positive …
Persistent link: https://www.econbiz.de/10003850730
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Do demographics prevent consumer aggregates from reflecting micro-level preferences?
Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - 2014
Most simulated micro-founded macro models use solely consumer-demand aggregates in order to estimate deep economy-wide preference parameters, which are useful for policy evaluation. The underlying demand-aggregation properties that this approach requires, should be easy to empirically disprove:...
Persistent link: https://www.econbiz.de/10010419864
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Consumption growth and volatility with consumption externalities
Xie, Runli - 2010 - This draft: November, 2010
-shaped relationship is found for the nondurable consumption. Moreover, examining the growth-inequality relationship using EVS data alone … volatility ; within-group inequality ; GSOEP ; EVS …
Persistent link: https://www.econbiz.de/10008749791
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Confronting the Representative Consumer with Household-Size Heterogeneity
Koulovatianos, Christos - 2010
Much analysis in macroeconomics empirically addresses economy-wide incentives behind consumer/investment choices by using insights from the way a single representative household would behave. Heterogeneity at the micro level can jeopardize attempts to back up the representative consumer...
Persistent link: https://www.econbiz.de/10013137999
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The Pricing Strategies of Unsecured Consumer Loans
Lu, Lei - 2020
This paper analyzes lenders' pricing strategies in the business-to-customer (B2C) unsecured loan market by using a proprietary dataset of approximately 3 million unsecured consumer loans from a B2C online retailer in China. We find that lenders' decisions to invite customers are based on...
Persistent link: https://www.econbiz.de/10012838385
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The Distribution of Wealth and the Marginal Propensity to Consume
Carroll, Christopher D. - 2014
dynamics. When the model is modified in a way that permits it to match empirical measures of wealth inequality in the U.S., we …
Persistent link: https://www.econbiz.de/10013057669
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The Credit Behavior of Households - A Behavioral Approach
Chávez-Juárez, Florian - 2015
consumption and consumption inequality. In this respect, the findings contradict the idea that access to credit is positive for …
Persistent link: https://www.econbiz.de/10013033523
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Seeking Lasting Enjoyment with Limited Money : Financial Constraints Increase Preference for Material Goods over Experiences
Tully, Stephanie - 2015
Consumers with limited discretionary money face important trade-offs when deciding how to spend it. In the current research, we suggest that feelings of financial constraint increase consumers' concern about the lasting utility of their purchases, which in turn increases their preference for...
Persistent link: https://www.econbiz.de/10013035220
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Consumption and savings in a low interest-rate environment
Hviid, Simon Juul; Kuchler, Andreas - 2017
This paper studies consumption and savings decisions of Danish households before and during the financial crisis as well as in the more recent years characterized by negative policy rates. While all household groups decreased their consumption ratios immediately in response to the financial...
Persistent link: https://www.econbiz.de/10011696538