of large prizes (USD 8,300-150,000) is slightly below one half. While the consumption responses we find are high, their …

(positive) impact on households' consumption (savings), even after we control for family income. We argue that people save to … consumption is stronger for poorer and younger people, and income inequality stimulates more education investment, which are …

This paper studies consumption and savings decisions of Danish households before and during the financial crisis as … consumption ratios immediately in response to the financial crisis, net savers have increased their consumption ratios to pre … housing wealth, suggesting that collateral effects may play a role. The MPC is asymmetric; households adjust their consumption …

The Economic Council’s Road Map for Tax Reform laid the groundwork for a greater discussion of the consumption tax … and against a consumption tax. He argues that the tax treatment of savings is likely to become a more central policy focus … on consumption taxes: a sharp increase in sales tax revenues (sales and excise) to reduce reliance on income taxes; a …

Carroll and Kimball (1996) show that the consumption function for an agent with time-separable, isoelastic preferences … always exists a distribution of income risk such that consumption function is not concave in wealth. I also derive suffi … cient conditions guaranteeing that the consumption function is concave if the agent has preferences for late resolution of …

distinguishing between consumption theories. Asking households about their intended spending under various scenarios, we find that 1 …

households reduce their consumption in order to finance a tax-favored saving instrument using a unique administrative panel data … consumption by US$25 (5.2%) per month on average in order to finance the tax-favored saving account. For a one dollar increase in …

In this paper, we estimate the effect of a tax policy change on households' consumption and retirement savings behavior … find that households reduce their consumption by 14% and increase their PPF savings by 16% in response to an increase in …