Calendrier du 15 décembre 2020
Virtual Development Economics Seminar
Du 15/12/2020 de 17:00 à 18:15
BANDIERA Oriana (LSE)
Why do people stay poor?
écrit avec C. Balboni, R. Burgess, M. Ghatak and A. Heil
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 15/12/2020 de 17:00 à 18:00
Zoom: https://zoom.us/j/97117933045?pwd=VG5oY0RDaWJMbmtSY2o3Y2F5RkZxZz09
MADINIER Etienne (PSE)
Explaining heterogenous effects of Internet across parties in French elections
Applied Economics Lunch Seminar
Du 15/12/2020 de 12:30 à 13:30
via ZOOM
LAVEST Chloé (CAE)
Consumption Dynamics in the COVID Crisis: Real Time Insights from French Data
écrit avec Camille Landais (LSE), Etienne Fize (CAE)
We use anonymised transaction and bank data from France to document the evolution of consumption and savings dynamics since the onset of the pandemic. We find that consumption has dropped very severely during the nation-wide lock- down but experienced a strong and steady rebound during the Summer. The effect of the second lockdown on consumption was significantly smaller. We also document a significant increase in aggregate households’ net financial wealth. This excess savings is extremely heterogenous across the income distribution: 50% of excess wealth accrued to the top decile. Households in the bottom decile of the income distribution experienced a severe decrease in consumption, a decrease in savings and an increase in debt. We estimate marginal propensities to consume and show that their magnitude is large, especially at the bottom of the income and liquidity dis- tributions.