| dc.contributor.author | Baugh, Brian | |
| dc.contributor.author | Ben-David, Itzhak | |
| dc.contributor.author | Park, Hoonsuk | |
| dc.contributor.author | Parker, Jonathan A | |
| dc.date.accessioned | 2021-10-27T19:57:45Z | |
| dc.date.available | 2021-10-27T19:57:45Z | |
| dc.date.issued | 2021 | |
| dc.identifier.uri | https://hdl.handle.net/1721.1/134039 | |
| dc.description.abstract | © 2021 American Economic Association. All rights reserved. Analyzing account-level data from an account aggregator, we find that households increase consumption when they receive expected tax refunds, as if they face liquidity constraints. However, these same households smooth consumption when making payments in other years, primarily by transferring funds among liquid accounts. Even households carrying credit card debt smooth consumption when making payments, and even highly liquid households spend out of refunds. This behavior is inconsistent with pure liquidity constraints or hand-to-mouth behavior and is most consistent with a mental accounting life-cycle model. | |
| dc.language.iso | en | |
| dc.publisher | American Economic Association | |
| dc.relation.isversionof | 10.1257/aer.20181735 | |
| dc.rights | Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use. | |
| dc.source | American Economic Association | |
| dc.title | Asymmetric Consumption Smoothing | |
| dc.type | Article | |
| dc.contributor.department | Sloan School of Management | |
| dc.relation.journal | American Economic Review | |
| dc.eprint.version | Final published version | |
| dc.type.uri | http://purl.org/eprint/type/JournalArticle | |
| eprint.status | http://purl.org/eprint/status/PeerReviewed | |
| dc.date.updated | 2021-03-12T15:43:16Z | |
| dspace.orderedauthors | Baugh, B; Ben-David, I; Park, H; Parker, JA | |
| dspace.date.submission | 2021-03-12T15:43:17Z | |
| mit.journal.volume | 111 | |
| mit.journal.issue | 1 | |
| mit.license | PUBLISHER_POLICY | |
| mit.metadata.status | Authority Work and Publication Information Needed | |
