Consumption Volatility, Liquidity Constraints and Household Welfare
Datos Bibliográficos
| ID | 9705707 |
|---|---|
| Autores | Keshav Dogra (Columbia University), Olga Gorbachev (University of Delaware) |
| Año | 2016 |
| Volumen | 126 |
| Número | 597 |
| Páginas | 2012-2037 |
| Fecha de publicación | 2016-11-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | The Economic Journal (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editorial | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12295 |
| OpenAlex | W3121362180 |
| Idioma | EN |
| Citas recibidas | 2 |
| Referencias citadas | 44 |
We evaluate the impact of increased income uncertainty and financial liberalisation in the US on consumption volatility and household welfare. We estimate Euler equations and measure the volatility of unpredictable changes in consumption as the squared residuals. We directly control for liquidity constraints using SCF data on access to credit, and document that despite the increase in household debt between 1983 and 2007, there was no decline in the proportion of liquidity constrained households. Consumption volatil-ity increased significantly over this period, especially for liquidity constrained households, indicating substantial welfare losses
Consumption (sociology · Debt · Econometrics · Economics · Household debt · Macroeconomics · Market liquidity · Monetary economics · Volatility (finance · Welfare · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Housing, Finance, and Neoliberalism
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| Obras citantes distintas | 2 |
|---|---|
| Citas por año | 0,29 |
| Intervalo de citas | 2019 - 2020 (2) |
| Velocidad de citación | historical |
| Altamente citado | No |
| Tipos de cita | Neutras: 2 |