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  1. MPCs in an economic crisis
    spending, saving and private transfers
    Autor*in: Crossley, Thomas F.; Fisher, Paul; Levell, Peter; Low, Hamish
    Erschienen: [2021]
    Verlag:  Institute for Fiscal Studies, London

    MPCs were directly elicited from a representative sample of UK adults in July 2020 using receipt of a hypothetical unanticipated, one-time income payment. Reported MPCs are modest, around 11% on average. They are higher, but still modest, for... mehr

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    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 141
    Fernleihe:
    keine Fernleihe

     

    MPCs were directly elicited from a representative sample of UK adults in July 2020 using receipt of a hypothetical unanticipated, one-time income payment. Reported MPCs are modest, around 11% on average. They are higher, but still modest, for individuals in households with high current needs. These low MPCs may be a consequence of the prevailing economic uncertainty. Significant fractions of respondents report they would use a windfall to pay down debt, or that they would change their transfer payments to or from family and friends. The latter means that the aggregate MPC out of a stimulus payment need not equal the population-average MPC.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/242925
    Schriftenreihe: Working paper / lnstitute for Fiscal Studies ; 21, 26
    Schlagworte: spending; MPC; crowding out; COVID-19
    Umfang: 1 Online-Ressource (circa 27 Seiten), Illustrationen
  2. MPCs through COVID
    spending, saving and private transfers
    Autor*in: Crossley, Thomas F.; Fisher, Paul; Levell, Peter; Low, Hamish
    Erschienen: 05 Feb 2021
    Verlag:  The Institute for Fiscal Studies, London

    MPCs were directly elicited from a representative sample of UK adults in July 2020 using receipt of a hypothetical unanticipated, one-time income payment. Reported MPCs are low, around 11% on average. They are higher, but still modest, for... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 141
    Fernleihe:
    keine Fernleihe

     

    MPCs were directly elicited from a representative sample of UK adults in July 2020 using receipt of a hypothetical unanticipated, one-time income payment. Reported MPCs are low, around 11% on average. They are higher, but still modest, for individuals in households with high current needs. These low MPCs may be a consequence of the prevailing economic un-certainty. Further, the fraction of respondents that report they would change their transfer payments to or from family and friends is almost as large as the fraction that report they would increase their spending. This means that targeting direct fiscal stimulus payments to high-MPC individuals could be partly undone, and that the aggregate MPC out of a stimulus payment need not equal the population-average MPC.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/242902
    Schriftenreihe: Working paper / lnstitute for Fiscal Studies ; 21, 03
    Schlagworte: spending; MPC; crowding out; COVID-19
    Umfang: 1 Online-Ressource (circa 20 Seiten), Illustrationen
  3. An empirical analysis of monetary policy committees composition and its relationship with monetary policy
    Autor*in: Costa, Guilherme Spilimbergo; Guillén, Diogo Abry
    Erschienen: January 26, 2022
    Verlag:  [Insper], [São Paulo/SP - Brasil]

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    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: [Insper working papers]
    Schlagworte: monetary policy; MPC; policy-makers
    Umfang: 1 Online-Ressource (circa 21 Seiten), Illustrationen
  4. Mental accounts and consumption sensitivity across the distribution of liquid assets
    Autor*in: Graham, James; McDowall, Robert A.
    Erschienen: April 2, 2024
    Verlag:  Australian National University, Crawford School of Public Policy, Canberra

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    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VSP 1716
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: CAMA working paper series ; 2024, 25 (March 2024)
    Schlagworte: consumption; MPC; excess sensitivity; mental accounts; fiscal stimulus
    Umfang: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  5. The role of MPC heterogeneity for fiscal and monetary policy in the Euro Area
    Autor*in: Albacete, Nicolas; Fessler, Pirmin; Pekanov, Atanas
    Erschienen: [2024]
    Verlag:  OeNB, Oesterreichische Nationalbank, Vienna, Austria

    Closely following the seminal contribution of Jappelli and Pistaferri (2014) - based on Italian household survey data - we employ data of 22 European countries to assess the role of heterogeneity of the marginal propensity to consume (MPC) for fiscal... mehr

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    Verlag (kostenfrei)
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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 821
    Fernleihe:
    keine Fernleihe

     

    Closely following the seminal contribution of Jappelli and Pistaferri (2014) - based on Italian household survey data - we employ data of 22 European countries to assess the role of heterogeneity of the marginal propensity to consume (MPC) for fiscal policy in the Euro area. We document an average MPC of 0.46 in the Euro area and illustrate its heterogeneity across countries, household-characteristics, and major items of the households' balance sheets such as cash-on-hand, liquid, and illiquid wealth. Households with low cash-on-hand have on average higher MPCs. Policy experiments show how the (empirically measured heterogeneity of) MPC affects fiscal policy and makes it more effective in stimulating GDP growth than under the assumption of uniform MPCs. We also illustrate how different MPC patterns lead to similar policies having different effects across the members of the Euro area. Therefore, MPC heterogeneity matters for efficient policy design at the national as well as multinational level. Additionally, we also highlight the role of MPC heterogeneity for monetary policy and deliver a large set of parameters ready to be used in calibrations of Heterogenous Agent New Keynesian and similar economic models.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/286405
    Schriftenreihe: Working paper / Oesterreichische Nationalbank ; 254
    Schlagworte: MPC; household survey; fiscal policy; simulations; HANK
    Umfang: 1 Online-Ressource (circa 54 Seiten), Illustrationen