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Consumption, Income Changes and Heterogeneity

其他書名	Evidence from Two Fiscal Stimulus Programmes
出版	Centre for Economic Policy Research, 2013
URL	http://books.google.com.hk/books?id=VliA0AEACAAJ&hl=&source=gbs_api

註釋Almost half of American families did not adjust their consumption following receipt of the 2001 or 2008 tax rebates. Another 20%, with low income and more likely to rent, spent a small but significant amount. Households with large spending propensity held high mortgage debt. The heterogeneity is concentrated in a few non-durable categories and a handful of ǹew vehicle' purchases. The predictions of the heterogeneous response model appear far more accurate than their homogeneous response model counterparts, offering new insights on the evaluation of the two fiscal stimulus programmes.