Results 1 to 10 of about 75,594 (47)
The Matching Multiplier and the Amplification of Recessions
The American Economic Review, 2023 This paper shows that the unequal incidence of recessions in the labor market amplifies aggregate shocks. Using administrative data from the United States, I document a positive covariance between workers' marginal propensities to consume (MPCs) and ...
Christina Patterson
semanticscholar +1 more source
The Effect of Macroeconomic Uncertainty on Household Spending
Social Science Research Network, 2021 We use randomized treatments that provide different types of information about the first and/or second moments of future economic growth to generate exogenous changes in the perceived macroeconomic uncertainty of treated households.
Olivier Coibion +4 more
semanticscholar +1 more source
Monetary Policy and the Redistribution Channel
The American Economic Review, 2017 This paper evaluates the role of redistribution in the transmission mechanism of monetary policy to consumption. Three channels affect aggregate spending when winners and losers have different marginal propensities to consume: an earnings heterogeneity ...
Adrien Auclert
semanticscholar +1 more source
Consumer Spending During Unemployment: Positive and Normative Implications
The American Economic Review, 2019 Using de-identified bank account data, we show that spending drops sharply at the large and predictable decrease in income arising from the exhaustion of unemployment insurance (UI) benefits.
Peter Ganong, P. Noel
semanticscholar +1 more source
Retirement Consumption and Pension Design
Social Science Research Network, 2023 This paper analyzes consumption to evaluate the distributional effects of pension reforms. Using Swedish administrative data, we show that on average, workers who retire earlier consume less while retired and experience larger drops in consumption around
J. Kolsrud +3 more
semanticscholar +1 more source
Skewed Wealth Distributions: Theory and Empirics
Journal of Economic Literature, 2016 Invariably, across a cross-section of countries and time periods, wealth distributions are skewed to the right displaying thick upper tails, that is, large and slowly declining top wealth shares.
J. Benhabib, Alberto Bisin
semanticscholar +1 more source
Five Facts about MPCs: Evidence from a Randomized Experiment
The American Economic ReviewWe present five facts from an experiment on the marginal propensity to consume (MPC) out of transitory transfers: (1) the one-month MPC on a cash-like transfer is 23 percent; (2) it is substantially higher (61 percent) on a transfer administered via a ...
Johannes Boehm +2 more
semanticscholar +1 more source
The Effects of Biased Labor Market Expectations on Consumption, Wealth Inequality, and Welfare
Social Science Research NetworkWe analyze US survey data and document a substantial optimistic bias of households in their expectations about future labor market transitions. We find that low-skilled individuals tend to be strongly overoptimistic, whereas high-skilled individuals have
Almut Balleer +3 more
semanticscholar +1 more source
Old age risks, consumption, and insurance
The American Economic Review, 2023 In the United States, after age 65, households face income and health risks, and a large fraction of these risks are transitory. While consumption significantly responds to transitory income shocks, out-of-pocket medical expenses do not.
R. Blundell +3 more
semanticscholar +1 more source
The Distribution of Wealth and the Marginal Propensity to Consume
Social Science Research Network, 2014 We present a macroeconomic model calibrated to match both microeconomic and macroeconomic evidence on household income dynamics. When the model is modified in a way that permits it to match empirical measures of wealth inequality in the U.S., we show ...
C. Carroll +2 more
semanticscholar +1 more source