Asymmetric Consumption Effects of Transitory Income Shocks*
基于荷兰家庭调查数据，研究意外暂时性收入冲击（正负、大小）对消费的非对称影响，结果支持预防性储蓄、借贷约束等跨期选择模型。
Abstract We use the responses of a representative sample of Dutch households to survey questions that ask how much their consumption would change in response to unexpected, transitory income shocks (positive or negative). The questionnaire also distinguishes between relatively small income changes (a one-month increase or drop in income), and relatively larger ones (equal to three-months' income). The results are broadly in line with models of intertemporal choice with precautionary saving, borrowing constraints and finite horizons.