| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17173 |
| DP17173 The Sentimental Propagation of Lottery Winnings: Evidence from the Spanish Christmas Lottery | |
| Morteza Ghomi; Isabel Micó-Millán; Evi Pappa | |
| 发表日期 | 2022-04-03 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We leverage a unique natural experiment, the Spanish Christmas lottery, to investigate the impact of highly geographically clustered winnings on macroeconomic aggregates, and on sentiment and durable consumption, using survey evidence. Lottery winnings induce significant demand effects, especially during recessions, reducing unemployment and increasing job creation and CPI prices. Albeit not receiving wins, households in winning provinces become more optimistic on impact and significantly increase their durable consumption (for furniture and vehicles) six months after the shock. We propose this lottery as an unconventional fiscal policy tool for increasing aggregate revenues and stimulating local demand without crowding out aggregate activity. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Randomized natural experiment Transitory income shocks Sentiment and consumption responses |
| URL | https://cepr.org/publications/dp17173 |
| 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/546166 |
| 推荐引用方式 GB/T 7714 | Morteza Ghomi,Isabel Micó-Millán,Evi Pappa. DP17173 The Sentimental Propagation of Lottery Winnings: Evidence from the Spanish Christmas Lottery. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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