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Fiscal policy and MPC heterogeneity
Jappelli, Tullio; Pistaferri, Luigi - 2013
48 percent on average, and that there is substantial heterogeneity in the distribution. We find that households with low …
Persistent link: https://www.econbiz.de/10010200792
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Spending effects of child-related fiscal transfers
Goldfayn-Frank, Olga; Lewis, Vivien; Wehrhöfer, Nils - 2022
As part of Germany’s fiscal response to the Covid-19 pandemic, parents received three payments totalling e450 per child. Randomization in the payment dates and daily scanner data allow us to identify the effects of these transfers on household spending. We find a significant but small spending...
Persistent link: https://www.econbiz.de/10013268076
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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/10012225697
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The Covid-19 crisis and consumption : survey evidence from six EU countries
Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, … - 2020
Using new panel data from a representative survey of households in the six largest euro area economies, the paper estimates the impact of the Covid-19 crisis on consumption. The panel provides, each month, household-specific indicators of the concern about finances due to Covid-19 from the first...
Persistent link: https://www.econbiz.de/10012390462
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How does monetary policy affect income and wealth inequality? : evidence from quantitative easing in the euro area
Lenza, Michele; Slacalek, Jirka - 2018
composition and the earnings heterogeneity channels of transmission. We find that the earnings heterogeneity channel plays a key … contrast, monetary policy has only negligible effects on wealth inequality. …
Persistent link: https://www.econbiz.de/10011921470
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Macroprudential Policy and Household Wealth Inequality
Carpantier, Jean-Francois - 2017
show that the final level of wealth inequality depends on the size of the LTV ratio, housing prices, credit cost and the … strength of a bequest motive; ultimately with no unequivocal effect of LTV ratios on wealth inequality. These trade-offs are … wealth inequality today, while house price increases are negatively related to inequality contributions. A proxy for the …
Persistent link: https://www.econbiz.de/10012953956
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Distributional effects of the COVID-19 lockdown
Clemens, Marius; Heinemann, Maik - 2020
inequality. …
Persistent link: https://www.econbiz.de/10012234494
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Dynamic effect of fiscal policy on wealth inequality : evidence from middle-income countries
Aye, Goodness C.; Odhiambo, Nicholas M. - In: Cogent economics & finance 10 (2022) 1, pp. 1-12
The study examined the dynamic effect of fiscal policy on wealth inequality in middle-income countries using panel data … negative effect on wealth inequality, government expenses have no effect whatsoever on wealth inequality. …
Persistent link: https://www.econbiz.de/10013373341
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Inequality-constrained monetary policy in a financialized economy
Fierro, Luca Eduardo; Giri, Federico; Russo, Alberto - 2023
We study how income inequality affects monetary policy through the inequality-household debt channel. We design a … rate and decreasing bankruptcies during the household's debt boom phase. When inequality meets financial liberalization, a … that inequality may constrain the central bank, even when it is not explicitly targeted. …
Persistent link: https://www.econbiz.de/10013548811
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Managing Households' Expectations with Salient Economic Policies
D'Acunto, Francesco - 2019
The empirical effectiveness of economic policies that operate theoretically through similar channels differs substantially. We document this fact by comparing an easy-to-grasp expectations-based policy, unconventional fiscal policy, with a policy whose implications are harder to understand by...
Persistent link: https://www.econbiz.de/10012861381