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Wealth shocks, unemployment shocks and consumption in the wake of the Great Recession
Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, … - 2014
We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of …
Persistent link: https://www.econbiz.de/10010420293
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The consumption and wealth effects of an unanticipated change in lifetime resources
Jappelli, Tullio; Padula, Mario - 2015
lifetime resources, on the current consumption and wealth accumulation of employees affected by the reform. In line with …
Persistent link: https://www.econbiz.de/10011282352
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Differences in euro-area household finances and their relevance for monetary-policy transmission
Hintermaier, Thomas; Koeniger, Winfried - 2019
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ …
Persistent link: https://www.econbiz.de/10012142941
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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007
We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...
Persistent link: https://www.econbiz.de/10010986371
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Consumption smoothing and liquidity income redistribution
Bertola, Giuseppe; Koeniger, Winfried - Center for Financial Studies - 2006
We show theoretically that income redistribution benefits borrowingconstrained individuals more than is implied by standard relative-income and uninsurable-risk considerations. Empirically, we find in international opinion-survey data that younger and lower-income individuals express stronger...
Persistent link: https://www.econbiz.de/10010958531
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Dissecting saving dynamics: Measuring wealth, precautionary, and credit effects
Carroll, Christopher D.; Slacalek, Jiri; Sommer, Martin - Center for Financial Studies - 2012
recent substantial rise (2008-2011) can be interpreted using a parsimonious buffer stock model of consumption in the presence …
Persistent link: https://www.econbiz.de/10010958787
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Wealth shocks, unemployment shocks and consumption in the wake of the Great Recession
Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, … - Center for Financial Studies - 2014
We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of …
Persistent link: https://www.econbiz.de/10010958788
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Precautionary saving and the marginal propensity to consume out of permanent income
Carroll, Christopher D. - Center for Financial Studies - 2009
The budget constraint requires that, eventually, consumption must adjust fully to any permanent shock to income …
Persistent link: https://www.econbiz.de/10010958808
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Home ownership and monetary policy transmission
Koeniger, Winfried; Ramelet, Marc-Antoine - 2018
.6 percentage points in Switzerland. The response of non-housing consumption in Switzerland is less heterogeneous across renters and …
Persistent link: https://www.econbiz.de/10011936367
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Households' response to the wealth effects of inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - 2024
wealth. These changes causally affect actual consumption and hypothetical debt decisions. Our findings suggest real wealth … mediates the sensitivity of consumption to inflation once households are aware of the wealth effects of inflation. …
Persistent link: https://www.econbiz.de/10015184729