Heterogeneous consumers and fiscal policy shocks
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- dc.contributor.author Anderson, Emilyca
- dc.contributor.author Inoue, Atsushica
- dc.contributor.author Rossi, Barbara, 1971-ca
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2017-07-26T10:50:46Z
- dc.date.available 2017-07-26T10:50:46Z
- dc.date.issued 2011-02-01
- dc.date.modified 2017-07-23T02:16:54Z
- dc.description.abstract This paper studies empirical facts regarding the effects of unexpected changes in aggregate macroeconomic fiscal policies on consumers that differ depending on individual characteristics. We use data from the Consumption Expenditure Survey to estimate individual-level responses and multipliers for government spending. We find that unexpected fiscal shocks have substantially different effects on consumers depending on their income and age levels: the wealthiest individuals tend to behave according to predictions of standard RBC models, whereas the poorest ones behave according to standard IS-LM (non- Ricardian) models, most likely due to credit constraints. Furthermore, government spending policy shocks tend to decrease consumption inequality.
- dc.format.mimetype application/pdfca
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1478
- dc.identifier.citation Journal of Money, Credit and Banking, 48 (8), 2016, 1877-1888
- dc.identifier.uri http://hdl.handle.net/10230/23387
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1478
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword
- dc.subject.keyword Macroeconomics and International Economics
- dc.subject.keyword Statistics, Econometrics and Quantitative Methods
- dc.title Heterogeneous consumers and fiscal policy shocksca
- dc.title.alternative
- dc.type info:eu-repo/semantics/workingPaper