Asymmetric Consumption Effects of Transitory Income Shocks*
نویسندگان
چکیده
منابع مشابه
Consumption Responses to Permanent and Transitory Shocks to House Appreciation
We estimate the marginal propensity to consume (MPC) out of permanent and transitory shocks to house price appreciation. Besides borrowing constraints, we consider two different models under which those shocks may affect consumption. In the first one, we treat housing as a risky asset. In the second one, housing has a role as a consumption and as an investment good. In both, changes in the rate...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 2019
ISSN: 0013-0133,1468-0297
DOI: 10.1093/ej/uez013