A Model of the Consumption Response to Fiscal Stimulus Payments
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A wide body of empirical evidence finds that around 25 percent of fiscal stimulus payments (e.g., tax rebates) are spent on nondurable household consumption in the quarter that they are received. To interpret this fact, we develop a structural economic model where households can hold two assets: a
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美国国家经济研究局创建时间：
2011-08-01
