Does consumption respond to predicted increases in cash-hand availability?. Evidence from the Italian "severance pay"

Margherita Borella; Elsa Fornero; Mariacristina Rossi

doi:10.1016/j.econlet.2009.06.016

Does consumption respond to predicted increases in cash-hand availability?. Evidence from the Italian "severance pay"

Margherita Borella
, Elsa Fornero
, Mariacristina Rossi

Risultato della ricerca: Contributo su rivista › Articolo in rivista › peer review

Abstract

We examine whether Italian household consumption exhibits excess sensitivity to "severance pay", a sizable lump-sum that workers receive at job termination. We find no evidence of excess sensitivity of non-durable expenditure to this anticipated cash-in-hand change.

Lingua originale	Inglese
pagine (da-a)	127-129
Numero di pagine	3
Rivista	Economics Letters
Volume	105
Numero di pubblicazione	1
DOI	https://doi.org/10.1016/j.econlet.2009.06.016
Stato di pubblicazione	Pubblicato - ott 2009
Pubblicato esternamente	Sì

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10.1016/j.econlet.2009.06.016

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title = "Does consumption respond to predicted increases in cash-hand availability?. Evidence from the Italian {"}severance pay{"}",

abstract = "We examine whether Italian household consumption exhibits excess sensitivity to {"}severance pay{"}, a sizable lump-sum that workers receive at job termination. We find no evidence of excess sensitivity of non-durable expenditure to this anticipated cash-in-hand change.",

keywords = "Euler equation, Excess sensitivity, Life-cycle, Severance pay",

author = "Margherita Borella and Elsa Fornero and Mariacristina Rossi",

year = "2009",

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KW - Euler equation

KW - Excess sensitivity

KW - Life-cycle

KW - Severance pay

UR - https://www.scopus.com/pages/publications/69349092548

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DO - 10.1016/j.econlet.2009.06.016

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Does consumption respond to predicted increases in cash-hand availability?. Evidence from the Italian "severance pay"

Abstract

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