Aller au contenu principal
A propos d'HEC A propos d'HEC Faculté et Recherche Faculté et Recherche Grande Ecole
& Masters Grande Ecole
& Masters
MBA Programs MBA Programs Programme PhD Programme PhD Executive Education Executive Education Summer School Summer School HEC Online HEC Online
A propos d'HEC En bref En bref Qui sommes-nous ? Qui sommes-nous ? Egalité des chances Egalité des chances HEC Talents HEC Talents International International Vie du campus Vie du campus Développement durable Développement durable Diversité et inclusion Diversité et inclusion Stories Stories Fondation HEC Fondation HEC Coronavirus Coronavirus Faculté et Recherche À propos À propos Corps professoral Corps professoral Départements Départements Centres Centres Chaires Chaires Knowledge Knowledge Grande Ecole
& Masters
Grande Ecole
Master in Management Grande Ecole
Master in Management
Master in International
Finance Master in International
Finance
MS
et Masters MS
et Masters
Programmes
X-HEC Programmes
X-HEC
Doubles Diplômes
en Admission directe Doubles Diplômes
en Admission directe
Visiting
students Visiting
students
Certificats Certificats Vie
Etudiante Vie
Etudiante
Student
Stories Student
Stories
MBA Programs MBA MBA Executive MBA Executive MBA TRIUM EMBA TRIUM EMBA Programme PhD Overview Overview HEC Difference HEC Difference Program details Program details Research areas Research areas HEC Community HEC Community Placement Placement Job Market Job Market Admissions Admissions Financing Financing Executive Education Executive Masters Executive Masters Certificats Executive Certificats Executive Programmes courts Executive Programmes courts Executive Online Online Entreprises Entreprises Executive MBA Executive MBA Infinity Pass Infinity Pass Summer School Youth programs Youth programs Summer programs Summer programs HEC Online En bref En bref Programme diplômant Programme diplômant Certificats Executive Certificats Executive MOOCs MOOCs Summer Programs Summer Programs
Faculté et Recherche

Consumption Response Heterogeneity and Dynamics with an Inattention Region

13 sep
2022
15H15
Jouy-en-Josas
Anglais

Participer

Ajouter au calendrier
2022-09-13T15:15:00 2022-09-13T14:30:00 Consumption Response Heterogeneity and Dynamics with an Inattention Region Department of Economics and Decision Sciences  Guest Speaker : Jérémy Boccanfuso (Univ. of Bologna) Room : T- Jouy-en-Josas

Department d'Economie et Sciences de la Décision  
Intervenant : Jérémy Boccanfuso (Univ. of Bologna)
Salle : T-

Abstract:

A theory in which the timing of consumer expectation adjustments is endogenously state-dependent and stochastic is proposed. These expectation adjustments generate highly heterogenous consumption responses to income windfalls: many households do not respond, those who do over-react, the marginal propensity to consume depends on windfall size and is asymmetric. We document these features in the Bank of England survey of consumers and find that they simultaneously rule out most previous explanations for these effects, including consumption adjustment cost and liquidity constraints. At the aggregate level, consumption is less sensitive to expansionary policies during recessions and its excess smoothness varies significantly over the business cycle with consumers’ attention, a feature that we document in US data.

 

Participer

Ajouter au calendrier
2022-09-13T15:15:00 2022-09-13T14:30:00 Consumption Response Heterogeneity and Dynamics with an Inattention Region Department of Economics and Decision Sciences  Guest Speaker : Jérémy Boccanfuso (Univ. of Bologna) Room : T- Jouy-en-Josas