What model features and calibration strategies yield a large average marginal propensity to
consume (MPC) in heterogeneous agent models? Through a systematic investigation of …

We investigate the transmission of monetary policy to household consumption using
administrative data on the universe of households in Norway. On the basis of identified …

This paper considers how monetary policy produces heterogeneous effects on euro area
households, depending on the composition of their income and on the components of their …

This article reviews the economics literature of, primarily, the last 20 years, that studies the
link between income shocks and consumption fluctuations at the household level. We …

We present five facts from an experiment on the marginal propensity to consume (MPC) out
of transitory transfers:(1) the one-month MPC on a cash-like transfer is 23 percent;(2) it is …

This paper studies how and why households adjust their spending, saving, and borrowing in
response to transitory income shocks. We leverage new large-scale survey data to first …

We use survey questions about spending in hypothetical scenarios to investigate features of
propensities to consume that are useful for distinguishing between consumption theories …

We use the responses of a representative sample of Dutch households to survey questions
that ask how much their consumption would change in response to unexpected, transitory …

This paper introduces the Consumer Expectations Survey (CES), a new online, high
frequency panel survey of euro area consumers' expectations and behaviour. The paper …

This article argues that an important, yet overlooked, determinant of the government
spending multiplier is the direction of the fiscal intervention. Regardless of whether we …