2026-07-22T12:48:36Zhttps://repositorio.bde.es/oai/requestoai:repositorio.bde.es:123456789/334132024-05-20T08:54:27Zcom_123456789_23296com_123456789_5861com_123456789_21col_123456789_23321
Repositorio Institucional
author
Martínez Carrascal, Carmen
2023-08-07T14:10:34Z
2023-08-07T14:10:34Z
2023-07-27
1695-9086 (en línea)
https://repositorio.bde.es/handle/123456789/33413
000474701
ECBU-2023-Q3-07
https://doi.org/10.53479/33413
Rationale
Since the pandemic, the Spanish labour market has shown considerable strength, which has been conducive to a decline in the perceived probability of job loss among workers. This article evaluates the extent to which this may have had a positive impact on consumption (by reducing precautionary saving).
Takeaways
•The strength of the labour market and the rising share of permanent contracts have helped reduce workers’ perceived probability of job loss. This lowers precautionary saving and raises household spending levels
•Uncertainty regarding future labour income has a particularly strong impact on spending on durable goods, and an albeit smaller impact on other non-essential expenditure.
•The households whose spending on durables is most responsive to changes in uncertainty about future labour income are those that lack a minimum buffer of liquid assets to withstand a drop in income. This is observed most frequently among low-income and young households.
en
Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0)
Consumption
Employment
Uncertainty
Precautionary saving
The recent strength of the labour market and its impact on workers’ consumption
Artículo
URL
https://repositorio.bde.es/bitstream/123456789/33413/4/be2303-art07e.pdf
File
MD5
162a4186da7d069134baf24ce7606e6e
528132
application/pdf
be2303-art07e.pdf
URL
https://repositorio.bde.es/bitstream/123456789/33413/2/be2303-art07e.pdf.txt
File
MD5
d5b1b6947ed2a3be42a89631764972df
18974
text/plain
be2303-art07e.pdf.txt