| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27944 |
| 来源ID | Working Paper 27944 |
| Temptation and Commitment: Understanding Hand-to-Mouth Behavior | |
| Orazio Attanasio; Agnes Kovacs; Patrick Moran | |
| 发表日期 | 2020-10-12 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper presents a model of consumption behavior that explains the presence of ‘wealthy hand-to-mouth’ consumers using a mechanism that differs from those analyzed previously. We show that a two-asset model with temptation preferences generates a demand for commitment and thus illiquidity, leading to hand-to-mouth behavior even when liquid assets deliver higher returns than illiquid assets. This model fits other features of the data, such as the fact that the Marginal Propensity to Consume declines only slowly with shock size. Moreover, temptation and commitment have important policy implications: we show that housing subsidies and mandatory mortgage amortization increase household savings. |
| 主题 | Microeconomics ; Households and Firms ; Behavioral Economics ; Macroeconomics ; Consumption and Investment ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w27944 |
| 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/585618 |
| 推荐引用方式 GB/T 7714 | Orazio Attanasio,Agnes Kovacs,Patrick Moran. Temptation and Commitment: Understanding Hand-to-Mouth Behavior. 2020. |
| 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 | ||
| w27944.pdf（599KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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