infrastructure conditions on excess sensitivity of household consumption based on the China Family Panel Survey (CFPS) and multi … infrastructure network has a significant alleviating effect on excess sensitivity of household consumption along the route, and the … infrastructure to alleviate excess sensitivity of household consumption. This paper confirms that improving the transportation …

consumption accordingly. Our results contribute to the literature on a dividend clientele and provide evidence of 'planned' excess … sensitivity. …

consumption accordingly. Our results contribute to the literature on a dividend clientele and provide evidence of 'planned' excess … sensitivity. …

%. The account-level data and the properties of the payments rule out most previous explanations of excess sensitivity … show that the welfare loss from excess sensitivity depends on the MPC and the relative payment size as a fraction of income …

We show that three factors combine to explain the mean excess sensitivity reported in studies estimating consumption … evidence for the excess sensitivity of consumption to income. Hence little remains for pure rule-of-thumb behavior. The results … averaging to account for model uncertainty. The estimates of excess sensitivity are also systematically affected by the order of …