| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29279 |
| 来源ID | Working Paper 29279 |
| Human Frictions in the Transmission of Economic Policies | |
| Francesco D’Acunto; Daniel Hoang; Maritta Paloviita; Michael Weber | |
| 发表日期 | 2021-09-27 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Many consumers below the top of the distribution of a representative population by cognitive abilities barely react to monetary and fiscal policies that aim to stimulate consumption and borrowing, even when they are financially unconstrained and despite substantial debt capacity. Differences in income, formal education levels, economic expectations, and a large set of registry-based demographics do not explain these facts. Heterogeneous cognitive abilities thus act as human frictions in the transmission of economic policies that operate through the household sector and might imply redistribution from low- to high-cognitive-ability agents. We conclude by discussing how our findings inform the microfoundation of behavioral macroeconomic theory. |
| 主题 | Microeconomics ; Households and Firms ; Economics of Information ; Behavioral Economics ; Macroeconomics ; Consumption and Investment ; Business Cycles ; Monetary Policy ; Fiscal Policy |
| URL | https://www.nber.org/papers/w29279 |
| 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/586953 |
| 推荐引用方式 GB/T 7714 | Francesco D’Acunto,Daniel Hoang,Maritta Paloviita,et al. Human Frictions in the Transmission of Economic Policies. 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 | ||
| w29279.pdf（842KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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