Arbeitspapier
The consumption response to labour income changes
We develop an income shock classification taxonomy that classifies income changes into 9 categories based on the magnitude, direction and permamency of the income change. Using 01/2017 - 06/2022 bank transaction data of Belgian employees and workers, we apply this classification on labour income changes to find that the elasticity to a positive recurrent labour income shocks is almost double that of a regular labour income change and a transient positive labour income shock. The effect significantly varies among different consumption durability types and is amplified in case of low levels of liquid wealth. Accounting for the heterogeneity in types of income changes is therefore important to understanding the multiplier effect of fiscal policy aimed at increasing available income.
- Sprache
-
Englisch
- Erschienen in
-
Series: NBB Working Paper ; No. 415
- Klassifikation
-
Wirtschaft
- Thema
-
Income changes
consumption
liquid wealth
marginal propensity to consume
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Boudt, Kris
Schoors, Koen
Van Den Heuvel, Milan
Weytjens, Johannes
- Ereignis
-
Veröffentlichung
- (wer)
-
National Bank of Belgium
- (wo)
-
Brussels
- (wann)
-
2022
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:24 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Boudt, Kris
- Schoors, Koen
- Van Den Heuvel, Milan
- Weytjens, Johannes
- National Bank of Belgium
Entstanden
- 2022
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