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Dissecting saving dynamics : measuring wealth, precautionary, and credit effects

Carroll, Chris; Slacalek, Jirka; Sommer, Martin - 2012

We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent steady decline (1980s - 2007), and recent substantial increase (2008 - 2011) can all be interpreted using a parsimonious 'buffer stock' model of optimal consumption in the presence...

Persistent link: https://www.econbiz.de/10009622528

Innocent bystanders? : monetary policy and inequality in the U.S.

Coibion, Olivier; Gorodnichenko, Yuriy; Küng, Lorenz; … - 2012

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....

Persistent link: https://www.econbiz.de/10009621686

Emigration and Wages in Source Countries : Evidence from Mexico

Mishra, Prachi - 2006

Persistent link: https://www.econbiz.de/10012691095

External Shocks and Business Cycle Fluctuations in Mexico

Sosa, Sebastián - 2008

This paper examines the relative importance of external shocks as sources of business cycle fluctuations in Mexico, and …, it finds that U.S. shocks explain a large share of Mexico's macroeconomic fluctuations after NAFTA. This partly reflects … greater trade integration-but also Mexico's ""Great Moderation,"" as the country escaped its former pattern of macro …

Persistent link: https://www.econbiz.de/10012677580

External Shocks and Business Cycle Fluctuations in Mexico : How Important are U.S. Factors?

Sosa, Sebastián - 2008

This paper examines the relative importance of external shocks as sources of business cycle fluctuations in Mexico, and …, it finds that U.S. shocks explain a large share of Mexico's macroeconomic fluctuations after NAFTA. This partly reflects … greater trade integration-but also Mexico's "Great Moderation," as the country escaped its former pattern of macro …

Persistent link: https://www.econbiz.de/10014409022

Feeling Rich, Feeling Poor: Housing Wealth Effects and Consumption in Europe

Cevik, Serhan - 2023

Households across Europe are struggling with a double crisis-the worst inflation shock since the World War II and a …

Persistent link: https://www.econbiz.de/10015058864

Dining and Wining During the Pandemic? A Quasi-Experiment on Tax Cuts and Consumer Spending in Lithuania

Cevik, Serhan - 2023

Could temporary tax cuts stimulate consumer spending? Sector-specific measures to the COVID-19 pandemic provides a quasi-experimental variation in consumption patterns to infer a causal effect of tax policy changes. Using a novel dataset of daily debit and credit card transactions, this paper...

Persistent link: https://www.econbiz.de/10015059089

Far More Than a Shot in the Arm: Vaccines and Consumer Spending

Cevik, Serhan - 2023

The spread of the COVID-19 pandemic and government interventions have reshaped economic activity with abrupt changes in household consumption behavior across the world. This paper provides an empirical investigation of how the COVID-19 vaccine rollout has affected consumer spending at daily...

Persistent link: https://www.econbiz.de/10015059500

Heterogeneous Spending, Heterogeneous Multipliers

Muratori, Umberto - 2023

Do local fiscal multipliers depend on what the government purchases? We find that government purchases of services have larger effects on employment than spending on goods. Industries producing services are more labor-intensive than industries producing goods. This heterogeneity in labor...

Persistent link: https://www.econbiz.de/10015059636

Show Me the Money: Tracking Consumer Spending with Daily Card Transaction Data During the Pandemic

Cevik, Serhan - 2022

The COVID-19 pandemic has been an unprecedented shock to economic activity with abrupt and unexpected changes in …

Persistent link: https://www.econbiz.de/10015059940