全球智库信息集成服务系统(G2TT): Consumer Spending During Unemployment: Positive and Normative Implications

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w25417
来源ID	Working Paper 25417
	Consumer Spending During Unemployment: Positive and Normative Implications
	Peter Ganong; Pascal J. Noel
发表日期	2019-01-07
出版年	2019
语种	英语
摘要	Using de-identified bank account data, we show that spending drops sharply at the large and predictable decrease in income arising from the exhaustion of unemployment insurance (UI) benefits. We use the high-frequency response to a predictable income decline as a new test to distinguish between alternative consumption models. The sensitivity of spending to income we document is inconsistent with rational models of liquidity-constrained households, but is consistent with behavioral models with present-biased or myopic households. Depressed spending after exhaustion also implies that the consumption-smoothing gains from extending UI benefits are four times larger than from raising UI benefit levels.
主题	Macroeconomics ; Consumption and Investment ; Labor Economics ; Unemployment and Immigration
URL	https://www.nber.org/papers/w25417
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/583091
推荐引用方式 GB/T 7714	Peter Ganong,Pascal J. Noel. Consumer Spending During Unemployment: Positive and Normative Implications. 2019.