Plausibly Exogenous - Lottery Winnings (08/01/2021)
LHS Variable
Household earnings
RHS Variable
Unearned income
Source of Exogenous Variation
Lottery winnings from 1999 to 2016, which can be viewed as a shock to household wealth or, equivalently, a permanent shock to unearned income
- Golosov, Graber, Mogstad, and Novgorodsky (2021), “How Americans Respond to Idiosyncratic and Exogenous Changes in Household Wealth and Unearned Income”