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The marginal propensity to consume and income and wealth distributions in Portugal: a panel household survey data analysis
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This work project assesses the role of inequality on households’ marginal propensities to consume
and calculates their effect on short-run aggregate demand growth in Portugal, between 2004 and
2020. Using household survey longitudinal data, this study shows that MPCs are decreasing on
income quintiles and have non-linear distributions by wealth quintiles, implying the existence of
MPC heterogeneity. Moreover, aggregate consumption growth is estimated and two important
results are achieved: targeted and non-targeted transfers under MPC heterogeneity imply a larger
aggregate demand multiplier than under a homogenous MPC and a targeted transfer to the top
income quintile leads to overall lower growth.
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Palavras-chave
Marginal propensity to consume Income and wealth distribution Panel data Aggregate multiplier Households Average propensity to consume