TY  - UNPD
A1  - Massenot, Baptiste
A1  - Nghiem, Giang
T1  - Depressed demand and supply
T2  - SAFE working paper series ; No. 257
N2  - We investigate the implications of experienced-based learning on consumption-saving and labor supply, two fundamental decisions in business cycle models. Using the Dutch Household Survey, we find that individuals who have experienced higher national unemployment rates over their lifetime save more, borrow less, and work less, after controlling for aggregate shocks, income, wealth, and demographics. Possibly explaining these behavioral responses, these individuals find it more important to save for retirement and to cover unexpected expenses, are more worried about losing their job, and dislike their job more. These results have implications for business cycle models and stabilization policies.
T3  - SAFE working paper - 257 
Y1  - 2019
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/50727
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-507274
IS  - July 22, 2019
PB  - SAFE
CY  - Frankfurt am Main
ER  -