Asymmetric Consumption Effects of Transitory Income Shocks*-Reference-Cited by-同舟云学术

Asymmetric Consumption Effects of Transitory Income Shocks*

Published:2019-05-17 Issue:622 Volume:129 Page:2322-2341
ISSN:0013-0133
Container-title:The Economic Journal
language:en
Short-container-title:

Author:

Christelis Dimitris¹,Georgarakos Dimitris²,Jappelli Tullio³,Pistaferri Luigi⁴,van Rooij Maarten⁵

Affiliation:

1. University of Naples Federico II, CSEF, CFS, CEPAR and Netspar

2. European Central Bank and CFS

3. University of Naples Federico II, CSEF and CEPR

4. Stanford University, SIEPR, NBER and CEPR

5. De Nederlandsche Bank and Netspar

Abstract

Abstract We use the responses of a representative sample of Dutch households to survey questions that ask how much their consumption would change in response to unexpected, transitory income shocks (positive or negative). The questionnaire also distinguishes between relatively small income changes (a one-month increase or drop in income), and relatively larger ones (equal to three-months' income). The results are broadly in line with models of intertemporal choice with precautionary saving, borrowing constraints and finite horizons.

Publisher

Oxford University Press (OUP)

Subject

Economics and Econometrics

Link

http://academic.oup.com/ej/advance-article-pdf/doi/10.1093/ej/uez013/28669504/uez013.pdf

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