Aaberge, Rolf; Liu, Kai; Zhu, Yu - Institute for the Study of Labor (IZA) - 2014
Despite macroeconomic evidence pointing to a negative aggregate consumption response due to political uncertainty, few … papers have used microeconomic panel data to analyze how households adjust their consumption after an uncertainty shock. We … uncertainty resulted in significant temporary increases in savings among urban households in China. Households responded mainly by …