| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25999 |
| 来源ID | Working Paper 25999 |
| Wealth Shocks and MPC Heterogeneity | |
| Dimitris Christelis; Dimitris Georgarakos; Tullio Jappelli; Luigi Pistaferri; Maarten van Rooij | |
| 发表日期 | 2019-06-24 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We use the responses of a representative sample of Dutch households to survey questions that ask how much their consumption would change in response to unexpected, permanent, positive or negative shocks to their home value. The average MPC is in the 2.1-4.7% range, in line with econometric estimates that use housing wealth and consumption realizations. However, our analysis uncovers significant sample heterogeneity, with over 90% of the sample reporting no consumption adjustment to positive or negative wealth shocks. The relation between the MPC from wealth shocks and cash-on-hand is negative, consistent with models with precautionary saving and liquidity constraints. |
| 主题 | Microeconomics ; Households and Firms ; Macroeconomics ; Consumption and Investment |
| URL | https://www.nber.org/papers/w25999 |
| 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/583673 |
| 推荐引用方式 GB/T 7714 | Dimitris Christelis,Dimitris Georgarakos,Tullio Jappelli,et al. Wealth Shocks and MPC Heterogeneity. 2019. |
| 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 | ||
| w25999.pdf（278KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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