Consumption smoothing after the final mortgage payment: Testing the magnitude hypothesis

Review of Economics and Statistics

Volumn 95, Issue 4, 2013, Pages 1444-1449

  Scholnick, Barry ^a  

^a UNIVERSITY OF ALBERTA   (Canada)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84885983615     PISSN: 00346535     EISSN: 15309142     Source Type: Journal    
DOI: 10.1162/REST_a_00313     Document Type: Article

References (17)

1. Agarwal, S., C. Liu, and N. S. Souleles, "The Reaction of Consumer Spending and Debt to Tax Rebates: Evidence from Consumer Credit Data," Journal of Political Economy 115 (2007), 986- 1019.
2. Aguila, E., O. Attanasio, and C. Meghir, "Changes in Consumption at Retirement: Evidence from Panel Data," this REVIEW 93 (2011), 1094-1099.
3. Banks, J., R. Blundel, and S. Tanner, "Is There a Retirement-Savings Puzzle?" American Economic Review 88 (1998), 769-788.
4. Browning, M., and M. D. Collado, "The Response of Expenditures to Anticipated Income Changes: Panel Data Estimates," American Economic Review 91 (2001), 681-692.
5. Browning, M., and T. F. Crossley, "The Life-Cycle Model of Consumption and Saving," Journal of Economic Perspectives 15 (2001), 3- 22.
6. Coulibaly, B., and G. Li, "Do Homeowners Increase Consumption after the Last Mortgage Payment? An Alternative Test of the Permanent Income Hypothesis," this REVIEW 88 (2006), 10-19.
7. DeJuan, J. P., J. J. Seater, and T. S. Wirjanto, "Testing the Stochastic Implications of Permanent Income Hypothesis Using Canadian Provincial Data," Oxford Bulletin of Economics and Statistics 72 (2010), 89-108.
8. Gross, D. B., & N. S. Souleles, "Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data," Quarterly Journal of Economics 117 (2002), 149-185.
9. Hsieh, C., "Do Consumers React to Anticipated Income Changes? Evidence from the Alaska Permanent Fund," American Economic Review 93 (2003), 397-405.
10. Jappelli, T., and L. Pistaferri, "The Consumption Response to Income Changes," Annual Review of Economics 2 (2010), 479-506.
11. Kreinin, M. E., "Windfall Income and Consumption: Additional Evidence," American Economic Review 51 (1961), 388-390.
12. Masier, G., and E. Villanueva, "Consumption and Initial Mortgage Conditions: Evidence from Survey Data," European Central Bank working paper 1297 (2011).
13. Meghir, C., and L. Pistaferri, "Earnings, Consumption and Lifecycle Choices," in O. Ashenfelter and D. Card (eds.), Handbook of Labor Economics (Amsterdam: North-Holland, 2010).
14. Parker, J. A., "The Reaction of Household Consumption to Predictable Changes in Social Security Taxes," American Economic Review 89 (1999), 959-973.
15. Petersen, M. A., "Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches," Review of Financial Studies 22 (2009), 435-480.
16. Souleles, N. S., "The Response of Household Consumption to Income Tax Refunds," American Economic Review 89 (1999), 947-958.
17. Stephens, M., Jr., "The Consumption Response to Predictable Changes in Discretionary Income; Evidence from the Repayment of Vehicle Loans," this REVIEW 90 (2008), 241-252.