Stimulus through Insurance: the Marginal Propensity to Repay Debt
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下载链接：
https://www.nber.org/papers/w34399
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资源简介：
Using detailed microdata, we document that households often use stimulus checks to pay down debt, especially those with low net wealth-to-income ratios. To rationalize these patterns, we introduce an empirically plausible borrowing price schedule into an otherwise standard incomplete markets model.
提供机构：
美国国家经济研究局
创建时间：
2025-10-01
