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The 2020 CARES Act directed large cash payments to households. We analyze house-holds' spending responses using high-frequency transaction data from a Fintech non-profit, exploring heterogeneity by income levels, recent income declines, and liquidity as well as linked survey responses about...
Persistent link: https://www.econbiz.de/10012481681
Persistent link: https://www.econbiz.de/10014445777
Because of limitations in survey-based measures of household consumption, a growing literature uses an alternative measure of consumer expenditures commonly referred to as "imputed consumption." This approach typically utilizes annual snapshots of household income and wealth from administrative...
Persistent link: https://www.econbiz.de/10012480729
The 2020 CARES Act directed large cash payments to households. We analyze house-holds' spending responses using high-frequency transaction data from a Fintech non-profit, exploring heterogeneity by income levels, recent income declines, and liquidity as well as linked survey responses about...
Persistent link: https://www.econbiz.de/10012835110
The 2020 CARES Act directed large cash payments to households. We analyze house-holds' spending responses using high-frequency transaction data from a Fintech non-profit, exploring heterogeneity by income levels, recent income declines, and liquidity as well as linked survey responses about...
Persistent link: https://www.econbiz.de/10012835583
Because of limitations in survey-based measures of household consumption, a growing literature uses an alternative measure of consumer expenditures commonly referred to as "imputed consumption." This approach typically utilizes annual snapshots of household income and wealth from administrative...
Persistent link: https://www.econbiz.de/10012910647
Because of limitations in survey-based measures of household consumption, a growing literature uses an alternative measure of consumption commonly referred to as `imputed consumption'. This approach utilizes annual snapshots of household income and wealth from administrative tax registries to...
Persistent link: https://www.econbiz.de/10012852292
When the zero lower bound on nominal interest rate binds, monetary policy makers may lack traditional tools to stimulate aggregate demand. We investigate whether "unconventional" fiscal policy, in the form of pre-announced consumption tax changes, has the potential to meaningfully shift durables...
Persistent link: https://www.econbiz.de/10012480864
The growth of the availability and use of detailed household financial transaction microdata has dramatically expanded the ability of researchers to understand both household decision-making as well as aggregate fluctuations across a wide range of fields. This class of transaction data is...
Persistent link: https://www.econbiz.de/10012599317
This paper demonstrates that it is possible to construct accurate pictures of firm revenue, growth, geographic dispersion, and customer base characteristics using an increasingly accessible class of consumer financial transaction data. We develop two new measures which characterize firms'...
Persistent link: https://www.econbiz.de/10012481255