Reported MPC and Unobserved Heterogeneity

被引：15
|
作者：
Jappelli, Tullio [1 ,2 ,3 ]
Pistaferri, Luigi [3 ,4 ,5 ]
机构：
[1] Univ Naples Federico II, Via Cinzia, I-80146 Naples, Italy
[2] Ctr Studies Econ & Finance, Naples, Italy
[3] CEPR, London, England
[4] Stanford Univ, 579 Jane Lathrop Way, Stanford, CA 94305 USA
[5] NBER, Stanford Inst Econ Policy Res, Cambridge, MA 02138 USA
来源：
AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY | 2020年 / 12卷 / 04期
关键词：
CONSUMPTION RESPONSE; CONSUMER RESPONSE; INCOME;
D O I：
10.1257/pol.20180420
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Panel data on reported marginal propensity to consume in the 2010 and 2016 Italian Survey of Household Income and Wealth uncover a strong negative relationship between cash on hand and MPC. Even though the relationship is attenuated when using regression methods that control for unobserved heterogeneity, the amount of bias is moderate. MPC estimates are used to evaluate the effectiveness of revenue-neutral fiscal policies targeting different parts of the distribution of household resources.
引用
收藏
页码：275 / 297
页数：23
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