| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10698 |
| DP10698 The Consumption Response to Liquidity-Enhancing Transfers: Evidence from Italian Earthquakes | |
| Giancarlo Corsetti; Saverio Simonelli; Antonio Acconcia | |
| 发表日期 | 2015-07-12 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Exploiting three Italian earthquakes as quasi-experiments, we analyze the response of homeowners' consumption to targeted transfers, financing housing reconstruction over time. Like loans, these transfers mainly affect the liquidity of households' wealth in the short run: we show that they have no effect on consumption over a multi-year horizon. Yet, the access to reconstruction funds has significantly heterogeneous effects on impact: it strongly raises non-durable consumption by households with low liquidity and bank debt (the `wealthy-hand-to-mouth'); it makes no difference for liquid households. Consistently, in either group, consumption is insensitive to transfer funds that accrue directly to firms. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Consumption Liquidity Mortgage Public transfers Quasi-experiments |
| URL | https://cepr.org/publications/dp10698 |
| 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/539529 |
| 推荐引用方式 GB/T 7714 | Giancarlo Corsetti,Saverio Simonelli,Antonio Acconcia. DP10698 The Consumption Response to Liquidity-Enhancing Transfers: Evidence from Italian Earthquakes. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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