| 000 | 02458cam a22003857 4500 | ||
|---|---|---|---|
| 001 | w27988 | ||
| 003 | NBER | ||
| 005 | 20211020103453.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s2020 mau fo 000 0 eng d | ||
| 100 | 1 |
_aEichenbaum, Martin S. _929337 |
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| 245 | 1 | 0 |
_aHow do People Respond to Small Probability Events with Large, Negative Consequences? / _cMartin S. Eichenbaum, Miguel Godinho de Matos, Francisco Lima, Sergio Rebelo, Mathias Trabandt. |
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_aCambridge, Mass. _bNational Bureau of Economic Research _c2020. |
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_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w27988 |
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| 500 | _aOctober 2020. | ||
| 520 | 3 | _aWe study how people react to small probability events with large negative consequences using the outbreak of the COVID-19 epidemic as a natural experiment. Our analysis is based on a unique administrative data set with anonymized monthly expenditures at the individual level. We find that older consumers reduced their spending by more than younger consumers in a way that mirrors the age dependency in COVID-19 case-fatality rates. This differential expenditure reduction is much more prominent for high-contact goods than for low-contact goods and more pronounced in periods with high COVID-19 cases. Our results are consistent with the hypothesis that people react to the risk of contracting COVID-19 in a way that is consistent with a canonical model of risk taking. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aE21 - Consumption • Saving • Wealth _2Journal of Economic Literature class. |
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| 690 | 7 |
_aG51 - Household Saving, Borrowing, Debt, and Wealth _2Journal of Economic Literature class. |
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| 690 | 7 |
_aI1 - Health _2Journal of Economic Literature class. |
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| 700 | 1 | _ade Matos, Miguel Godinho. | |
| 700 | 1 | _aLima, Francisco. | |
| 700 | 1 | _aRebelo, Sergio. | |
| 700 | 1 |
_aTrabandt, Mathias. _927801 |
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| 710 | 2 | _aNational Bureau of Economic Research. | |
| 830 | 0 |
_aWorking Paper Series (National Bureau of Economic Research) _vno. w27988. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w27988 |
| 856 |
_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w27988 |
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_2ddc _cW-PAPER |
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_c320134 _d278696 |
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