000147767 001__ 147767
000147767 005__ 20250103153614.0
000147767 0247_ $$2doi$$a10.1016/j.jmacro.2024.103661
000147767 0248_ $$2sideral$$a141315
000147767 037__ $$aART-2025-141315
000147767 041__ $$aeng
000147767 100__ $$0(orcid)0000-0003-1081-4107$$aBelloc, Ignacio$$uUniversidad de Zaragoza
000147767 245__ $$aConsumption responses to inheritances: The role of durable goods
000147767 260__ $$c2025
000147767 5060_ $$aAccess copy available to the general public$$fUnrestricted
000147767 5203_ $$aThis paper studies the impact of inheritances, a key component in household wealth accumulation, on consumption. Specifically, we investigate how inheritances influence household consumption
growth, distinguishing durable and nondurable goods. In doing so, we use data from the Panel Study of Income Dynamics spanning 2005–2019. The results reveal a positive effect of
inheritances on household consumption of durable goods. Such an effect occurs immediately after receiving the inheritance and its average magnitude is about 27 %. Estimates also reveal that
large inheritances significantly impact the consumption growth of durables, but also of nondurables, while small inheritances show no effects. Consumption responses are stronger among
liquidity and borrowing constrained households, aligning with life-cycle models of consumption behavior. Insights inform planners by highlighting varied effects of inheritances on household
consumption, particularly emphasizing the nuanced impact of inheritance size.
000147767 536__ $$9info:eu-repo/grantAgreement/ES/DGA/S32-23R
000147767 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/
000147767 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000147767 700__ $$0(orcid)0000-0002-9437-4606$$aMolina, José Alberto$$uUniversidad de Zaragoza
000147767 700__ $$0(orcid)0000-0002-0553-6360$$aVelilla, Jorge$$uUniversidad de Zaragoza
000147767 7102_ $$14000$$2415$$aUniversidad de Zaragoza$$bDpto. Análisis Económico$$cÁrea Fund. Análisis Económico
000147767 773__ $$g83 (2025), 103661 [16 pp.]$$pJ. macroecon.$$tJOURNAL OF MACROECONOMICS$$x0164-0704
000147767 8564_ $$s849534$$uhttps://zaguan.unizar.es/record/147767/files/texto_completo.pdf$$yVersión publicada
000147767 8564_ $$s2078993$$uhttps://zaguan.unizar.es/record/147767/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000147767 909CO $$ooai:zaguan.unizar.es:147767$$particulos$$pdriver
000147767 951__ $$a2025-01-03-13:21:07
000147767 980__ $$aARTICLE