{"id":"https://openalex.org/W3160141965","doi":null,"title":"Measuring the US marginal propensity to consume","display_name":"Measuring the US marginal propensity to consume","publication_year":2021,"publication_date":"2021-04-09","ids":{"openalex":"https://openalex.org/W3160141965","mag":"3160141965"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:ebl:ecbull:eb-20-00896","doi":null,"is_oa":false,"landing_page_url":"http://www.accessecon.com/Pubs/EB/2021/Volume41/EB-21-V41-I2-P26.pdf","pdf_url":"http://www.accessecon.com/Pubs/EB/2021/Volume41/EB-21-V41-I2-P26.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5085302003","display_name":"Samih Antoine Azar","orcid":"https://orcid.org/0000-0003-4111-797X","observed_orcids":["https://orcid.org/0000-0003-4111-797X"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Samih Antoine Azar","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5085302003"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.31,"has_fulltext":false,"cited_by_count":1,"citation_normalized_percentile":{"value":0.62092326,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":87,"max":92},"biblio":{"volume":"41","issue":"2","first_page":"283","last_page":"292"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.8798999786376953,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.8798999786376953,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.07020000368356705,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11770","display_name":"Fiscal Policy and Economic Growth","score":0.025200000032782555,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/marginal-propensity-to-consume","display_name":"marginal propensity to consume","score":1.0},{"id":"https://openalex.org/keywords/consumption-function","display_name":"consumption function","score":0.5830000042915344},{"id":"https://openalex.org/keywords/error-correction-model","display_name":"error correction model","score":0.9200000166893005},{"id":"https://openalex.org/keywords/bootstrap-method","display_name":"bootstrapping","score":0.8930000066757202},{"id":"https://openalex.org/keywords/fiscal-policy","display_name":"fiscal policy","score":0.6769999861717224},{"id":"https://openalex.org/keywords/income-effects","display_name":"income effects","score":0.6069999933242798}],"concepts":[{"id":"https://openalex.org/C161629241","wikidata":"https://www.wikidata.org/wiki/Q1879079","display_name":"Marginal propensity to consume","level":3,"score":0.9496243596076965},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8140146732330322},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.6754260063171387},{"id":"https://openalex.org/C30772137","wikidata":"https://www.wikidata.org/wiki/Q5164762","display_name":"Consumption (sociology)","level":2,"score":0.6119566559791565},{"id":"https://openalex.org/C207609745","wikidata":"https://www.wikidata.org/wiki/Q4944086","display_name":"Bootstrapping (finance)","level":2,"score":0.5679223537445068},{"id":"https://openalex.org/C75778745","wikidata":"https://www.wikidata.org/wiki/Q342626","display_name":"Lag","level":2,"score":0.5374098420143127},{"id":"https://openalex.org/C61797465","wikidata":"https://www.wikidata.org/wiki/Q1188986","display_name":"Term (time)","level":2,"score":0.5240026712417603},{"id":"https://openalex.org/C159009313","wikidata":"https://www.wikidata.org/wiki/Q5283159","display_name":"Distributed lag","level":2,"score":0.48438650369644165},{"id":"https://openalex.org/C194425066","wikidata":"https://www.wikidata.org/wiki/Q1257519","display_name":"Permanent income hypothesis","level":3,"score":0.4713565707206726},{"id":"https://openalex.org/C8171440","wikidata":"https://www.wikidata.org/wiki/Q903414","display_name":"Steady state (chemistry)","level":2,"score":0.4287640154361725},{"id":"https://openalex.org/C524878704","wikidata":"https://www.wikidata.org/wiki/Q187021","display_name":"Fiscal policy","level":2,"score":0.4267274737358093},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.29488062858581543},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.1150592565536499},{"id":"https://openalex.org/C61570092","wikidata":"https://www.wikidata.org/wiki/Q15074930","display_name":"Life-cycle hypothesis","level":2,"score":0.06681275367736816},{"id":"https://openalex.org/C124584101","wikidata":"https://www.wikidata.org/wiki/Q1053266","display_name":"Multiplier (economics)","level":2,"score":0.0639285147190094},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C31258907","wikidata":"https://www.wikidata.org/wiki/Q1301371","display_name":"Computer network","level":1,"score":0.0},{"id":"https://openalex.org/C147789679","wikidata":"https://www.wikidata.org/wiki/Q11372","display_name":"Physical chemistry","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:RePEc:ebl:ecbull:eb-20-00896","doi":null,"is_oa":false,"landing_page_url":"http://www.accessecon.com/Pubs/EB/2021/Volume41/EB-21-V41-I2-P26.pdf","pdf_url":"http://www.accessecon.com/Pubs/EB/2021/Volume41/EB-21-V41-I2-P26.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"mag:3160141965","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-20-00896","pdf_url":null,"source":{"id":"https://openalex.org/S134953813","display_name":"Economics bulletin","issn_l":"1545-2921","issn":["1545-2921"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","jufo-1","norway-1","poland-20","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310319965","host_organization_name":"Springer Nature","host_organization_lineage":["https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economics bulletin","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W3121557129","https://openalex.org/W2612252059","https://openalex.org/W1709623384","https://openalex.org/W7134894607","https://openalex.org/W4311424001","https://openalex.org/W7167822663","https://openalex.org/W2059115947","https://openalex.org/W4386413373","https://openalex.org/W7222567454","https://openalex.org/W2102220174"],"abstract_inverted_index":{"The":[0],"marginal":[1],"propensity":[2],"to":[3,64],"consume":[4],"(MPC)":[5],"is":[6,13,77],"a":[7,21,42,83,87],"crucial":[8],"variable":[9],"in":[10],"macroeconomics,":[11],"and":[12,47,58,74,82],"critical":[14],"for":[15,29],"calculating":[16],"the":[17,30,51,67,79,92],"income":[18,73],"effects":[19],"of":[20,34,44,91],"given":[22],"fiscal":[23],"policy":[24],"stance.":[25],"This":[26],"paper":[27],"computes":[28],"US":[31],"three":[32,54],"degrees":[33],"MPC:":[35],"immediate,":[36],"or":[37,40],"instantaneous,":[38],"intermediate,":[39],"after":[41],"lag":[43],"one":[45],"year,":[46],"long":[48],"term,":[49],"at":[50],"steady-state.":[52],"All":[53],"are":[55],"statistically":[56],"significant":[57],"they":[59],"sway":[60],"gradually":[61],"from":[62],"lowest":[63],"highest.":[65],"Although":[66],"evidence":[68],"on":[69],"co-integration":[70],"between":[71],"actual":[72,75],"consumption":[76],"weak,":[78],"Error-Correction":[80],"Model":[81],"bootstrapping":[84],"procedure":[85],"permit":[86],"very":[88],"strong":[89],"reversal":[90],"evidence.":[93]},"counts_by_year":[{"year":2021,"cited_by_count":1}],"updated_date":"2026-08-11T07:18:39.950985","created_date":"2021-05-24T00:00:00"}