| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28625 |
| 来源ID | Working Paper 28625 |
| The Effect of Macroeconomic Uncertainty on Household Spending | |
| Olivier Coibion; Dimitris Georgarakos; Yuriy Gorodnichenko; Geoff Kenny; Michael Weber | |
| 发表日期 | 2021-03-29 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Using a new survey of European households, we study how exogenous variation in the macroeconomic uncertainty perceived by households affects their spending decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of future economic growth to generate exogenous changes in the perceived macroeconomic uncertainty of some households. The effects on their spending decisions relative to an untreated control group are measured in follow-up surveys. Higher macroeconomic uncertainty induces households to reduce their spending on non-durable goods and services in subsequent months as well as to engage in fewer purchases of larger items such as package holidays or luxury goods. Moreover, uncertainty reduces household propensity to invest in mutual funds. These results support the notion that macroeconomic uncertainty can impact household decisions and have large negative effects on economic outcomes. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w28625 |
| 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/586298 |
| 推荐引用方式 GB/T 7714 | Olivier Coibion,Dimitris Georgarakos,Yuriy Gorodnichenko,et al. The Effect of Macroeconomic Uncertainty on Household Spending. 2021. |
| 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 | ||
| w28625.pdf（612KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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