| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14035 |
| 来源ID | Working Paper 14035 |
| The Own and Social Effects of an Unexpected Income Shock: Evidence from the Dutch Postcode Lottery | |
| Peter J. Kuhn; Peter Kooreman; Adriaan R. Soetevent; Arie Kapteyn | |
| 发表日期 | 2008-05-30 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | In the Dutch Postcode Lottery a postal code (19 households on average) is randomly selected weekly, and prizes - consisting of cash and a new BMW - are awarded to lottery participants living in that postal code. On average, this generates a temporary, unexpected income shock equal to about eight months of income for about one third of the households in a typical winning code, while leaving the incomes of nonwinning, neighboring households unaffected. We study the responses of consumption and reported happiness of both winners and nonwinners to these shocks. Consistent with simple models of in-kind transfers, the overwhelming majority of households who won a BMW convert it into cash. With the exception of food away from home, the only 'own' effects of cash winnings we detect are on durables expenditures and car consumption; these results support a version of the permanent income hypothesis in which durable spending is used to smooth consumption. We detect social effects of neighbors' winnings on two types of consumption: cars and exterior home renovations. Six months after the fact, winning the lottery does not make households happier, nor do neighbors' winnings reduce happiness. |
| 主题 | Econometrics ; Estimation Methods ; Microeconomics ; Households and Firms |
| URL | https://www.nber.org/papers/w14035 |
| 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/571709 |
| 推荐引用方式 GB/T 7714 | Peter J. Kuhn,Peter Kooreman,Adriaan R. Soetevent,et al. The Own and Social Effects of an Unexpected Income Shock: Evidence from the Dutch Postcode Lottery. 2008. |
| 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 | ||
| w14035.pdf（386KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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