2026-04-14T04:17:43Zhttps://recercat.cat/oai/request

oai:recercat.cat:2072/4810432025-04-03T11:52:20Zcom_2072_98col_2072_378192

Reported MPC in the presence of debt Sala Lorda, Hector Debt Marginal propensity to consume Survey We use information from the last wave of the Spanish Survey of Household Finances to study the influence of debt on self-reported marginal propensity to consume (MPC). We find an average MPC of 43% with indebted households having a smaller MPC than non-indebted households. This negative association increases along with the amount of debt. The MPC is lower for households that were subject to liquidity constraints in the previous year, and for those whose reference person is self-employed. The past relationship between income and consumption is also an important determinant of the MPC, as households that invest last year's savings, or hold them for the future, have a lower MPC. These findings are in line with the predictions of precautionary saving models. 2021 Working paper https://ddd.uab.cat/record/306392 urn:10.1016/j.econlet.2021.109929 urn:oai:ddd.uab.cat:306392 urn:oai:egreta.uab.cat:publications/6179db37-b5e5-4c1f-a160-7bbcaabc1f3d urn:pure_id:464553650 urn:scopus_id:85108120868 urn:articleid:01651765v205p109929 eng Agencia Estatal de Investigación PID2019-104723RB-I00 Economics letters ; Vol. 205 (2021), p. 109929 open access Aquest material està protegit per drets d'autor i/o drets afins. Podeu utilitzar aquest material en funció del que permet la legislació de drets d'autor i drets afins d'aplicació al vostre cas. Per a d'altres usos heu d'obtenir permís del(s) titular(s) de drets. https://rightsstatements.org/vocab/InC/1.0/ application/pdf