We examine whether Italian household consumption exhibits excess sensitivity to “severancepay”, 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.

Does consumption respond to predicted increases in cash-on-hand availability? Evidence from the italian “severance pay”

BORELLA, Margherita;FORNERO, Elsa Maria;ROSSI, Mariacristina
2009

Abstract

We examine whether Italian household consumption exhibits excess sensitivity to “severancepay”, 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.
105(1)
127
129
http://www.sciencedirect.com/science/journal/01651765
M. Borella; E. Fornero; M.C. Rossi
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/2318/62961
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