Fiscal Policy and MPC Heterogeneity

By Tullio Jappelli, Luigi Pistaferri. 2014

350 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/c52eedd919f095bff749aa6eec65187ddd0a07cb

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Citations in the corpus

The Liquid Hand-to-Mouth: Evidence from Personal Finance Management Software (2018, methodology): “However, the MPCash is always small as in the model of Kaplan and Violante (2014b) because agents have little reason to hold cash.”
Stock Market Returns and Consumption (2020, neutral): “For example, Johnson, Parker and Souleles (2006), Johnson et al. (2013), Agarwal and Qian (2014) and Jappelli and Pistaferri (2014) discuss estimates of MPC out of one-time transfers like tax rebates.8 Most of this literature finds MPCs for non-durables of about 20% and for total consumption…”
House Price Gains and U.S. Household Spending from 2002 to 2006 (2014, background): “Jappelli and Pistaferri (2014) find that the MPC out of rebate checks in Italy is 0.65 for the lowest cash-on-hand households, and 0.30 for the highest.”
Macroeconomics and Household Heterogeneity (2016, background): “…conduct a comprehensive study of automatic stabilization programs on business cycle dynamics, to Heathcote (2005), Kaplan and Violante (2014) and Jappelli and Pistaferri (2014), who study the role of discretionary changes in income taxation on aggregate consumption, and Brinca, Holter, Krusell…”
Wealth Heterogeneity and the Income Elasticity of Migration (2017, background): “…on the aggregate consumption or labor supply response to income shocks in the presence of individual heterogeneity (e.g., Attanasio et al., 2015; Jappelli and Pistaferri, 2014). explore the relative importance of these two forces in modern developing countries where (i) rainfall and commodity…”
Monetary Policy and the Redistribution Channel (2017, positive): “This is reminiscent of the finding from Jappelli and Pistaferri (2014) that MPC covaries with net liquid assets in this survey.”
The Effect of Unconventional Fiscal Policy on Consumption Expenditure (2016, neutral): “We match households in Germany with households abroad to account for the heterogeneity in responsiveness to inflation expectations we document in Section III, and the large heterogeneity in marginal propensities to consume to fiscal policy shocks Jappelli and Pistaferri (2014) document.”