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DTSTART:19700308T020000
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BEGIN:VEVENT
UID:d2dc3802-dfa1-454c-9ef7-3fc996b30eeb@findlocal.community
DTSTAMP:20261026T203138Z
DTSTART;TZID=America/Detroit:20261026T160000
DTEND;TZID=America/Detroit:20261026T180000
SUMMARY:Consumption\, Savings\, and Earnings Responses to Financial Windf
 alls (joint with Rajashri Chakrabarti\, Philippe d’Astous\, Sheisha Ku
 lkarni\, Vyacheslav Mikhed\, Matthew J. Notowidigdo\, Sahil Raina and Ba
 rry Scholnick)
DESCRIPTION:We estimate the causal effects of a financial windfall on con
 sumption\, savings\, and wage earnings using linked administrative data 
 on a large sample of Canadian lottery winners. Using separate linkages o
 f lottery winners to income tax records and credit bureau data\, we esti
 mate how lottery winnings affect consumption measured through credit car
 d spending\, savings through financial asset accumulation and debt repay
 ment\, and wage earnings from tax records. We then examine how these res
 ponses vary across the income distribution. We find that high-income ind
 ividuals allocated a larger share of lottery winnings to savings and lei
 sure\, while low-income individuals spent a larger share on consumption.
  We illustrate the policy relevance of these heterogeneous responses thr
 ough three applications: designing fiscal stimulus programs\, evaluating
  a Universal Basic Income (UBI)\, and determining optimal top tax rates 
 on wage earnings and savings.\n\nMore info: https://events.umich.edu/eve
 nt/149331\n\nhttps://findlocal.community/event/d2dc3802-dfa1-454c-9ef7-3
 fc996b30eeb
LOCATION:The University of Michigan\, Ann Arbor\, MI
URL:https://findlocal.community/event/d2dc3802-dfa1-454c-9ef7-3fc996b30ee
 b
STATUS:CONFIRMED
SEQUENCE:0
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