Arbeitspapier
Consumption smoothing and liquidity income redistribution
We show theoretically that income redistribution benefits borrowingconstrained individuals more than is implied by standard relative-income and uninsurable-risk considerations. Empirically, we find in international opinion-survey data that younger and lower-income individuals express stronger support for government redistribution in countries where consumer credit is less easily available. This evidence supports our theoretical perspective if such individuals are more strongly affected by tighter credit supply, in that expectations of higher incomes in the future increase their propensity to borrow.
- Language
-
Englisch
- Bibliographic citation
-
Series: CFS Working Paper ; No. 2006/34
- Classification
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
- Subject
-
Consumption
Smoothing
- Event
-
Geistige Schöpfung
- (who)
-
Bertola, Giuseppe
Koeniger, Winfried
- Event
-
Veröffentlichung
- (who)
-
Goethe University Frankfurt, Center for Financial Studies (CFS)
- (where)
-
Frankfurt a. M.
- (when)
-
2006
- Handle
- URN
-
urn:nbn:de:hebis:30-38088
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Bertola, Giuseppe
- Koeniger, Winfried
- Goethe University Frankfurt, Center for Financial Studies (CFS)
Time of origin
- 2006
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