Replication data for: Fiscal Policy and MPC Heterogeneity
Principal Investigator(s): View help for Principal Investigator(s) Tullio Jappelli; Luigi Pistaferri
Version: View help for Version V1
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mpc_AEJ_Macro | 12/07/2019 03:08:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 12/07/2019 10:08:AM |
Project Citation:
Jappelli, Tullio, and Pistaferri, Luigi. Replication data for: Fiscal Policy and MPC Heterogeneity. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116432V1
Project Description
Summary:
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We use responses to survey questions in the 2010 Italian Survey of
Household Income and Wealth that ask consumers how much of an
unexpected transitory income change they would consume. The marginal propensity to consume (MPC) is 48 percent on average. We
also find substantial heterogeneity in the distribution, as households
with low cash-on-hand exhibit a much higher MPC than affluent
households, which is in agreement with models with precautionary
savings, where income risk plays an important role. The results have
important implications for predicting household responses to tax
reforms and redistributive policies.
Scope of Project
JEL Classification:
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D12 Consumer Economics: Empirical Analysis
D14 Household Saving; Personal Finance
E21 Macroeconomics: Consumption; Saving; Wealth
E62 Fiscal Policy
H23 Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
D12 Consumer Economics: Empirical Analysis
D14 Household Saving; Personal Finance
E21 Macroeconomics: Consumption; Saving; Wealth
E62 Fiscal Policy
H23 Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
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