Discussion Paper
Heterogeneity in the Marginal Propensity to Consume among U.S. Households
Abstract: Precise estimates of marginal propensities to consume (MPCs) are central to understanding economic activity and the effects of economic shocks on households. However, the literature does not yield a consensus on either an aggregate MPC or the extent to which MPCs vary across the population.
https://doi.org/10.17016/2380-7172.4197
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https://www.federalreserve.gov/econres/notes/feds-notes/heterogeneity-in-the-marginal-propensity-to-consume-among-u-s-households-20261009.html
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Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2026-10-09
Number: 2026-10-09-4
Note: Authors acknowledge assistance from Payton Crawford.