Durables and Size-Dependence in the Marginal Propensity to Spend
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Stimulus checks have become an increasingly important policy tool in recent U.S. recessions. How does the households' marginal propensity to spend (MPX) vary as checks become larger? To quantify this size-dependence in the MPX, we augment a canonical model of durable spending by introducing a smooth
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美国国家经济研究局创建时间：
2024-01-01
