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Marginal Propensity to Consume and Personal Characteristics: Evidence from Bank Transaction Data and Survey

KOZO UEDA

Journal of Money, Credit and Banking2026https://doi.org/10.1111/jmcb.70041article
AJG 4ABDC A*
Weight
0.50

Abstract

The marginal propensity to consume (MPC) is heterogeneous and depends on liquidity, while liquidity is affected by both temporary circumstances and persistent characteristics. Using bank account transaction data and a survey of its account holders, this study aims to distinguish the sources of MPC heterogeneity. The results indicate that individuals with higher levels of risk aversion and time discount rates tend to exhibit a higher MPC, whereas lower wealth is also linked to a higher MPC. These findings suggest that MPC heterogeneity is influenced by both temporary and persistent factors.

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https://doi.org/https://doi.org/10.1111/jmcb.70041

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@article{kozo2026,
  title        = {{Marginal Propensity to Consume and Personal Characteristics: Evidence from Bank Transaction Data and Survey}},
  author       = {KOZO UEDA},
  journal      = {Journal of Money, Credit and Banking},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1111/jmcb.70041},
}

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Marginal Propensity to Consume and Personal Characteristics: Evidence from Bank Transaction Data and Survey

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.