منابع مشابه
Consumption and Debt Aversion: An Experimental Study
This paper tests how subjects behave in an intertemporal consumption/saving experiment when borrowing is allowed and whether subjects treat debt differently than savings. Two treatments create environments where either saving or borrowing is required for optimal consumption. Since both treatments share the same optimal consumption levels, actual consumption choices can be directly compared acro...
متن کاملAnticipated Changes in Household Debt and Consumption
This paper evaluates how anticipated changes in household debt associated with the leveraged purchase of housing a ects consumption. I build a heterogeneous agent model, calibrated to match the distribution of income and wealth within the US economy, in which households are subject to uninsurable income shocks and can save in both liquid and illiquid assets. I show that the marginal propensity ...
متن کاملHousehold Debt and Aggregate Consumption Expenditures
This paper shows that the debt burden of households, as measured by the debt service to income ratio, is helpful in forecasting the future growth of consumption expenditures. Using data for the United States over the period 1960-97, I find a significant negative relationship between the debt-service ratio of households and future aggregate spending growth. This effect is statistically important...
متن کاملAnticipated Changes in Household Debt and Consumption
This paper evaluates how anticipated changes in household debt associated with the leveraged purchase of housing a ects consumption. I build a heterogeneous agent model, calibrated to match the distribution of income and wealth within the US economy, in which households are subject to uninsurable income shocks and can save in both liquid and illiquid assets. I show that the marginal propensity ...
متن کاملIntertemporal Consumption and Debt Aversion: An Experimental Study∗
This paper tests how subjects behave in an intertemporal consumption/saving experiment when borrowing is allowed and whether subjects treat debt differently than savings. Two treatments create environments where either saving or borrowing is required for optimal consumption. Since both treatments share the same optimal consumption levels, observed consumption choices can be directly compared ac...
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ژورنال
عنوان ژورنال: History of the Human Sciences
سال: 2015
ISSN: 0952-6951,1461-720X
DOI: 10.1177/0952695115599314