Income, liquidity, and the consumption response to the 2020 economic stimulus payments
The 2020 CARES Act directed large cash payments to households. We analyze households'
spending responses using data from a Fintech nonprofit, exploring heterogeneity by income …
spending responses using data from a Fintech nonprofit, exploring heterogeneity by income …
Consumer spending during unemployment: Positive and normative implications
Using de-identified bank account data, we show that spending drops sharply at the large
and predictable decrease in income arising from the exhaustion of unemployment insurance …
and predictable decrease in income arising from the exhaustion of unemployment insurance …
Debt and the response to household income shocks: Validation and application of linked financial account data
SR Baker - Journal of Political Economy, 2018 - journals.uchicago.edu
The increasing availability of data derived from linked consumer financial accounts has the
potential to dramatically expand the potential for research. Examining the most …
potential to dramatically expand the potential for research. Examining the most …
What do mutual fund investors really care about?
We show that mutual fund investors rely on simple signals and likely do not engage in
sophisticated learning about managers' alpha as widely believed. Simplistic performance …
sophisticated learning about managers' alpha as widely believed. Simplistic performance …
The measurement of household consumption expenditures
Household-level data on consumer expenditures underpin a wide range of empirical
research in modern economics, spanning micro-and macroeconomics. This research …
research in modern economics, spanning micro-and macroeconomics. This research …
[图书][B] Wealth, race, and consumption smoothing of typical income shocks
We study the consumption response to typical labor income shocks and investigate how
these vary by wealth and race. First, we estimate the elasticity of consumption with respect to …
these vary by wealth and race. First, we estimate the elasticity of consumption with respect to …
Household spending responses to the economic impact payments of 2020: Evidence from the consumer expenditure survey
ABSTRACT Using the Consumer Expenditure Survey and variation in amount, receipt, and
timing of receipt of Economic Impact Payments (EIPs) authorized by the CARES Act, this …
timing of receipt of Economic Impact Payments (EIPs) authorized by the CARES Act, this …
Consumption response to credit expansions: Evidence from experimental assignment of 45,307 credit lines
D Aydin - American Economic Review, 2022 - aeaweb.org
In a field experiment that constructs a randomized credit limit shock, participants borrow to
spend 11 cents on the dollar in the first quarter and 28 cents by the third year. Effects extend …
spend 11 cents on the dollar in the first quarter and 28 cents by the third year. Effects extend …
Sticking to your plan: The role of present bias for credit card paydown
We use data from an online financial service to show that many consumers fail to stick to
their self-set debt paydown plans. This behavior is best explained by present bias. Our …
their self-set debt paydown plans. This behavior is best explained by present bias. Our …
Mental Accounting and Decision Making: a systematic review of the literature.
In recent years, the concept of mental accounting has been widely used in the literature to
investigate its influence on decision-making processes related to savings, investment, debt …
investigate its influence on decision-making processes related to savings, investment, debt …