| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29664 |
| 来源ID | Working Paper 29664 |
| A Simple Mapping from MPCs to MPXs | |
| David Laibson; Peter Maxted; Benjamin Moll | |
| 发表日期 | 2022-01-17 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Standard consumption models assume a notional consumption flow that does not distinguish between nondurable and durable consumption. Such notional-consumption models generate notional marginal propensities to consume (MPC). By contrast, empirical work and policy discussions often highlight marginal propensities for expenditure (MPX), which incorporate spending on a durable stock. We compare the notional-consumption model to an isomorphic model with a durable stock, and map notional MPCs into MPXs. The mapping is especially simple for a one-period horizon: MPX = (1 - s + s/(r+d)) x MPC, with durable share s, real interest rate r, and durable depreciation rate d. |
| 主题 | Econometrics ; Data Collection ; Microeconomics ; Households and Firms ; Macroeconomics ; Consumption and Investment ; Fiscal Policy ; Financial Economics ; Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w29664 |
| 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/587338 |
| 推荐引用方式 GB/T 7714 | David Laibson,Peter Maxted,Benjamin Moll. A Simple Mapping from MPCs to MPXs. 2022. |
| 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 | ||
| w29664.pdf（416KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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