Consumption responses to income shocks through lottery winning
We study the effects of lottery winning on consumption spending using newly available household survey data in Singapore. We find strong consumption responses to a transitory income shock via lottery wins. Lottery winners spend about half of their prizes within 12 months of winning. We show that con...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2024
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/2725 https://ink.library.smu.edu.sg/context/soe_research/article/3724/viewcontent/Consumption_Responses_to_Income_Shocks_through_Lottery_Winning__with___R_R_at.pdf |
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| Institution: | Singapore Management University |
| Language: | English |