| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6081 |
| 来源ID | Working Paper 6081 |
| Unemployment Expectations, Jumping (S,s) Triggers, and Household Balance Sheets | |
| Christopher D. Carroll; Wendy E. Dunn | |
| 发表日期 | 1997-07-01 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | This paper examines the relationship between household balance sheets, consumer purchases, and expectations. We find few robust empirical relationships between balance sheet measures and spending, but we do find that unemployment expectations are robustly correlated with spending. We then construct a formal model of durables and nondurables consumption with an explicit role for unemployment and for household debt. We find that the model is capable of explaining several empirical regularities which are, at best, unexplained by standard models. Finally, we show that a loosening of liquidity constraints can produce a runup in debt similar to that experienced recently in the US, and that after such a liberalization consumer purchases show heightened sensitivity to labor income uncertainty, providing a potential rigorous interpretation of the widespread view that the buildup of debt in the 1980s may have played an important role in the weakness of consumption during and after the 1990 recession. |
| 主题 | Microeconomics ; Households and Firms ; Economics of Information |
| URL | https://www.nber.org/papers/w6081 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/563589 |
| 推荐引用方式 GB/T 7714 | Christopher D. Carroll,Wendy E. Dunn. Unemployment Expectations, Jumping (S,s) Triggers, and Household Balance Sheets. 1997. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w6081.pdf（1201KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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