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Did consumers want less debt? : consumer credit demand versus supply in the wake of the 2008 - 2009 financial crisis
Gropp, Reint; Krainer, John; Laderman, Elizabeth Stromberg - 2014
in consumption after 2008. First, households may have optimally adjusted to lower wealth by reducing their demand for …
Persistent link: https://www.econbiz.de/10010252065
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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 … increasing housing wealth over one year to be around 4-6 per cent. Younger and more levered households have a larger MPC out of … housing wealth, suggesting that collateral effects may play a role. The MPC is asymmetric; households adjust their consumption …
Persistent link: https://www.econbiz.de/10011696538
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Consumer good search: theory and evidence
Darougheh, Saman - 2021
I develop a model of the consumer good market where the individual's search decision is consistent with balanced-growth preferences. Here, optimal search is independent of income but increases with the time endowment. I characterize the potentially multiple equilibria and test whether the model...
Persistent link: https://www.econbiz.de/10012510199
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Keeping up with the ageing Joneses
Fisher, Walter H.; Heijdra, Ben J. - 2007
In this paper we consider the implications of relative consumption externalities in the Blanchard-Yaari overlapping generations framework. Unlike most of the macroeconomic literature that studies this question, the differences between agents, and, thus, in their relative position, persist in...
Persistent link: https://www.econbiz.de/10010294031
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Growth effects of consumption jealousy in a two-sector model
Duernecker, Georg - 2007
This paper aims at analyzing the implications of individuals' consumption jealousy on the dynamic structure of a two-sector model economy. We find that status-seeking substantially influences both, the long-term properties and the adjustment behavior of the model. Depending on the status motive,...
Persistent link: https://www.econbiz.de/10010294033
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Do consumers choose the right credit contracts?
Agarwal, Sumit; Chomsisengphet, Souphala; Liu, Chunlin; … - 2005
A number of studies have pointed to various mistakes that consumers might make in their consumption-saving and financial decisions. We utilize a unique market experiment conducted by a large U.S. bank to assess how systematic and costly such mistakes are in practice. The bank offered consumers a...
Persistent link: https://www.econbiz.de/10010298314
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Mortgage markets, collateral constraints, and monetary policy: Do institutional factors matter?
Calza, Alessandro; Monacelli, Tommaso; Stracca, Livio - 2006
We study the role of institutional characteristics of mortgage markets in affecting the strength and timing of the effects of monetary policy shocks on house prices and consumption in a sample of OECD countries. We document three facts: (1) there is significant divergence in the structure of...
Persistent link: https://www.econbiz.de/10010298359
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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Lusardi, Annamaria; Mitchell, Olivia S. - 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/10010298384
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International evidence on sticky consumption growth
Carroll, Christopher D.; Slacalek, Jirka; Sommer, Martin - 2008
We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10010298392
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Confronting the Robinson Crusoe paradigm with household-size heterogeneity
Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - 2008
available at the household level, and individuals living in multimember households have the potential to share goods within the …
Persistent link: https://www.econbiz.de/10010298407