| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4523 |
| DP4523 Social Networks and Labour Market Transitions | |
| Gilles Saint-Paul; Yann Bramoullé | |
| 发表日期 | 2004-08-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We simulate a buffer-stock model of consumption, explicitly aggregate over consumers, and estimate aggregate marginal propensities to consume out of current and lagged income using simulated data generated by the model. We calculate the predicted marginal effects of changing persistence of income shocks, aggregate-level uncertainty, and individual-level risk. Next, we estimate marginal propensities for US states using panel-data methods. We find effects of persistence that clearly correspond to the predictions of the model and while the effect of aggregate uncertainty cannot be determined precisely, indicators of individual level uncertainty have strong effects consistent with the model. Overall, the buffer-stock model clearly helps explain differences in consumer behaviour across states. |
| 主题 | International Macroeconomics |
| 关键词 | Buffer-stock Consumption Precautionary saving |
| URL | https://cepr.org/publications/dp4523 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533468 |
| 推荐引用方式 GB/T 7714 | Gilles Saint-Paul,Yann Bramoullé. DP4523 Social Networks and Labour Market Transitions. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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