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| Author: | Carbone, E. Hey, J.D. |
| Title: | The effect of unemployment on consumption: an experimental analysis |
| Journal: | Economic Journal
2004 : JUL, VOL. 114:497, p. 660-683 |
| Index terms: | Consumption Current purchasing power Unemployment |
| Language: | eng |
| Abstract: | This article reports on an experiment that explores the phenomenon of over-sensitivity of consumption to current income. The writers also investigate whether individuals correctly respond to their employment status. The findings suggest that subjects over-react. This over-sensitivity exists because economic agents differ in their ability to plan ahead and understand the process determining their employment status. |
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