Scarred consumption (Record no. 525524)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 01188nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240319b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Malmendier, Ulrike and Shen, Leslie Sheng |
| 245 ## - TITLE STATEMENT | |
| Title | Scarred consumption |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | American Economic Journal: Macroeconomics |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 16(1), Jan, 2024: p.322-355 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | We show that prior lifetime experiences can "scar" consumers. Consumers who have lived through times of unemployment exhibit persistent pessimism about their future financial situation and spend significantly less years later, controlling for income, employment, and other life-cycle consumption factors. Due to their experience-induced frugality, scarred consumers build up more wealth. We use a stochastic life-cycle model to show that financial constraints and traditional models of income and unemployment scarring fail to generate the negative relationship between past experiences and consumption. Instead, the relationship is consistent with experience-based learning.- Reproduced https://www.aeaweb.org/articles?id=10.1257/mac.20210387 |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | American Economic Journal: Macroeconomics |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) | |
| Subject DIP | CONSUMERS |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Institute of Public Administration | Indian Institute of Public Administration | 2024-03-19 | 16(1), Jan, 2024: p.322-355 | AR131322 | 2024-03-19 | Articles |