| 000 -LEADER |
|---|
| fixed length control field |
01239nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
210701b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Gross, T. Notowidigdo, Matthew J. and Wang Jialan |
| 245 ## - TITLE STATEMENT |
|---|
| Title |
The Marginal Propensity to Consume over the Business Cycle |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
American Economic Journal Macroeconomic 4 |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
12(2), Apr, 2020: p.351-384 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
We estimate how the marginal propensity to consume (MPC) out of liquidity varies over the business cycle. Ten years after a Chapter 7 bankruptcy, the bankruptcy flag is removed from the filer's credit report, generating an increase in credit score. In the year following flag removal, credit card limits increase by $778 and credit card balances increase by $290, implying an MPC of 0.37. Using cohorts of flag removals, we find that the MPC was 20 to 30 percent higher during the Great Recession, increased during the 2001 recession, and is positively correlated with the local unemployment rate. – Reproduced |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity |
| 9 (RLIN) |
26140 |
| 773 ## - HOST ITEM ENTRY |
|---|
| Main entry heading |
American Economic Journal Macroeconomic |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
|---|
| Subject DIP |
WAGES |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
