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The Economic Stimulus Payments of 2008 and the Aggregate Demand for Consumption

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Cited by:

  1. Fagereng, Andreas & Onshuus, Helene & Torstensen, Kjersti N., 2024. "The consumption expenditure response to unemployment: Evidence from Norwegian households," Journal of Monetary Economics, Elsevier, vol. 146(C).
  2. Frederik Plesner Lyngse, 2020. "Liquidity Constraints and Demand for Healthcare: Evidence from Danish Welfare Recipients," Papers 2010.14651, arXiv.org.
  3. Kasper Kragh Balke & Markus Karlman & Karin Kinnerud, 2024. "Winners and Losers from Property Taxation," Working Papers 04/2024, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School.
  4. Sebastian Gechert & Ansgar Rannenberg, 2018. "Which Fiscal Multipliers Are Regime‐Dependent? A Meta‐Regression Analysis," Journal of Economic Surveys, Wiley Blackwell, vol. 32(4), pages 1160-1182, September.
  5. Dennis Egger & Johannes Haushofer & Edward Miguel & Paul Niehaus & Michael Walker, 2022. "General Equilibrium Effects of Cash Transfers: Experimental Evidence From Kenya," Econometrica, Econometric Society, vol. 90(6), pages 2603-2643, November.
  6. Fernández-Villaverde, Jesús & Marbet, Joël & Nuño, Galo & Rachedi, Omar, 2025. "Inequality and the zero lower bound," Journal of Econometrics, Elsevier, vol. 249(PC).
  7. Rannenberg, Ansgar & Schoder, Christian & Strasky, Jan, 2015. "The macroeconomic effects of the Euro Area's fiscal consolidation," Economic Letters 10/EL/15, Central Bank of Ireland.
  8. Claudio Michelacci & Andrea Pozzi & Luigi Paciello, 2018. "The extensive margin of aggregate consumption demand," 2018 Meeting Papers 1008, Society for Economic Dynamics.
  9. Jonathan A. Parker, 2015. "Why Don't Households Smooth Consumption? Evidence from a 25 Million Dollar Experiment," NBER Working Papers 21369, National Bureau of Economic Research, Inc.
  10. Fang, Yi & Zeng, Wenrui & Zhang, Xuan & Zhao, Yang, 2025. "Personal income tax reform and health insurance purchases: Evidence from a quasi-natural experiment in China," Journal of Economic Behavior & Organization, Elsevier, vol. 235(C).
  11. Felix Chopra & Christopher Roth & Johannes Wohlfart, 2025. "Home Price Expectations and Spending: Evidence from a Field Experiment," American Economic Review, American Economic Association, vol. 115(7), pages 2267-2305, July.
  12. Anna Sokolova, 2023. "Marginal Propensity to Consume and Unemployment: a Meta-analysis," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 813-846, December.
  13. Rannenberg, Ansgar & Schoder, Christian & Strasky, Jan, 2015. "The macroeconomic effects of the Euro Area's fiscal consolidation 2011-2013: A Simulation-based approach," Research Technical Papers 03/RT/15, Central Bank of Ireland.
  14. Deniz Aydin, 2015. "The Marginal Propensity to Consume out of Liquidity," Discussion Papers 15-010, Stanford Institute for Economic Policy Research.
  15. Manuel Hernandez & Danilo Trupkin, 2021. "Asset maintenance as hidden investment among the poor and rich: Application to housing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 40, pages 128-145, April.
  16. Bernard, René, 2022. "Mental Accounting and the Marginal Propensity to Consume," VfS Annual Conference 2022 (Basel): Big Data in Economics 264186, Verein für Socialpolitik / German Economic Association.
  17. Terézia Vančová, 2019. "The Excess Smoothness and Sensitivity of Consumption in the V4 Countries," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 67(6), pages 1653-1663.
  18. Christopher D. Carroll & Edmund Crawley & Jiri Slacalek & Matthew N. White, 2021. "Modeling the Consumption Response to the CARES Act," International Journal of Central Banking, International Journal of Central Banking, vol. 17(1), pages 107-141, March.
  19. Adrien Auclert, 2019. "Monetary Policy and the Redistribution Channel," American Economic Review, American Economic Association, vol. 109(6), pages 2333-2367, June.
  20. Christian Bayer & Benjamin Born & Ralph Luetticke & Gernot J Müller, 2023. "The Coronavirus Stimulus Package: How Large is the Transfer Multiplier," The Economic Journal, Royal Economic Society, vol. 133(652), pages 1318-1347.
  21. Frederik Plesner Lyngse, 2020. "Liquidity Constraints and Demand for Healthcare: Evidence from Danish Welfare Recipients," CEBI working paper series 20-28, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
  22. Brand, Claus & Obstbaum, Meri & Coenen, Günter & Sondermann, David & Lydon, Reamonn & Ajevskis, Viktors & Hammermann, Felix & Angino, Siria & Hernborg, Nils & Basso, Henrique & Hertweck, Matthias & Bi, 2021. "Employment and the conduct of monetary policy in the euro area," Occasional Paper Series 275, European Central Bank.
  23. Bruno Martorano, 2015. "Lessons from the recent economic crisis: the Australian household stimulus package," International Review of Applied Economics, Taylor & Francis Journals, vol. 29(3), pages 309-327, May.
  24. Ansgar Rannenberg & Christian Schoder & Jan Strásky, 2015. "The macroeconomic effects of the Euro Area?s fiscal consolidation 2011-2013," IMK Working Paper 156-2015, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
  25. Lorenz Kueng, 2015. "Explaining Consumption Excess Sensitivity with Near-Rationality: Evidence from Large Predetermined Payments," NBER Working Papers 21772, National Bureau of Economic Research, Inc.
  26. Crossley, Thomas F. & Fisher, Paul & Levell, Peter & Low, Hamish, 2023. "Stimulus payments and private transfers," Economics Letters, Elsevier, vol. 222(C).
  27. Radermacher, Jan W., 2023. "Mamma Mia! Revealing hidden heterogeneity by PCA-biplot: MPC puzzle for Italy's elderly poor," SAFE Working Paper Series 382, Leibniz Institute for Financial Research SAFE.
  28. Olivier Coibion & Yuriy Gorodnichenko & Michael Weber, 2020. "How Did U.S. Consumers Use Their Stimulus Payments?," Working Papers 2020-109, Becker Friedman Institute for Research In Economics.
  29. Jonathan A. Parker & Nicholas S. Souleles, 2017. "Reported Effects vs. Revealed-Preference Estimates: Evidence from the propensity to spend tax rebates," NBER Working Papers 23920, National Bureau of Economic Research, Inc.
  30. Andrea Neri & Concetta Rondinelli & Filippo Scoccianti, 2017. "Household spending out of a tax rebate: Italian ��80 tax bonus�," Questioni di Economia e Finanza (Occasional Papers) 379, Bank of Italy, Economic Research and International Relations Area.
  31. Campbell, J.R. & Hercowitz, Zvi, 2018. "Liquidity Constraints of the Middle Class (revision of CentER DP 2015-009)," Discussion Paper 2018-039, Tilburg University, Center for Economic Research.
  32. Takashi UNAYAMA & Norihiro KOMURA & Takahiro HATTORI, 2021. "Impacts of Cash Transfers on Consumption during the COVID-19 Pandemic: Evidence from Japanese Special Cash Payment (Japanese)," Discussion Papers (Japanese) 21022, Research Institute of Economy, Trade and Industry (RIETI).
  33. Christopher D. Carroll & Edmund Crawley, 2017. "Comment on "When Inequality Matters for Macro and Macro Matters for Inequality"," NBER Chapters, in: NBER Macroeconomics Annual 2017, volume 32, pages 76-92, National Bureau of Economic Research, Inc.
  34. Qiao Liu & Qiaowei Shen & Zhenghua Li & Shu Chen, 2021. "Stimulating Consumption at Low Budget: Evidence from a Large-Scale Policy Experiment Amid the COVID-19 Pandemic," Management Science, INFORMS, vol. 67(12), pages 7291-7307, December.
  35. Yeo Joon Yoon & Wongi Kim, 2022. "Dynamic analysis of antidumping using impulse responses: a case between the United States and China," Empirical Economics, Springer, vol. 63(2), pages 671-694, August.
  36. David Cashin & Jamie Lenney & Byron Lutz & William Peterman, 2018. "Fiscal policy and aggregate demand in the USA before, during, and following the Great Recession," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 25(6), pages 1519-1558, December.
  37. Kanishka Misra & Vishal Singh & Qianyun (Poppy) Zhang, 2022. "Frontiers: Impact of Stay-at-Home-Orders and Cost-of-Living on Stimulus Response: Evidence from the CARES Act," Marketing Science, INFORMS, vol. 41(2), pages 211-229, March.
  38. Isabel Cairo & Jae Sim, 2017. "Income Inequality, Financial Crises and Monetary Policy," 2017 Meeting Papers 1433, Society for Economic Dynamics.
  39. Fuchs-Schündeln, N. & Hassan, T.A., 2016. "Natural Experiments in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 923-1012, Elsevier.
  40. Andreas Fuster & Greg Kaplan & Basit Zafar, 2021. "What Would You Do with $500? Spending Responses to Gains, Losses, News, and Loans [The Spending and Debt Response to Minimum Wage Hikes]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(4), pages 1760-1795.
  41. Likai Chen & Ekaterina Smetanina & Wei Biao Wu, 2022. "Estimation of nonstationary nonparametric regression model with multiplicative structure [Income and wealth distribution in macroeconomics: A continuous-time approach]," The Econometrics Journal, Royal Economic Society, vol. 25(1), pages 176-214.
  42. María Pía Olivero & Mikheil Dvalishvili, 2023. "What do fiscal stimulus packages mean for household debt?," Contemporary Economic Policy, Western Economic Association International, vol. 41(2), pages 282-299, April.
  43. Bernard, René, 2023. "Mental accounting and the marginal propensity to consume," Discussion Papers 13/2023, Deutsche Bundesbank.
  44. Somville, Vincent & Vandewalle, Lore, 2023. "Access to banking, savings and consumption smoothing in rural India," Journal of Public Economics, Elsevier, vol. 223(C).
  45. Christopher D. Carroll & Edmund Crawley & Håkon Tretvoll, 2023. "Welfare and Spending Effects of Consumption Stimulus Policies," Finance and Economics Discussion Series 2023-002, Board of Governors of the Federal Reserve System (U.S.).
  46. Bracco,Jessica Roxana & Galeano,Luciana Maria & Juarros,Pedro Francisco & Riera-Crichton,Daniel & Vuletin,Guillermo Javier, 2021. "Social Transfer Multipliers in Developed and Emerging Countries : The Role of Hand-to-Mouth Consumers," Policy Research Working Paper Series 9627, The World Bank.
  47. Michiru Kaneda & So Kubota & Satoshi Tanaka, 2021. "Who spent their COVID-19 stimulus payment? Evidence from personal finance software in Japan," The Japanese Economic Review, Springer, vol. 72(3), pages 409-437, July.
  48. Jonathan A. Parker & Jake Schild & Laura Erhard & David S. Johnson, 2022. "Economic Impact Payments and Household Spending during the Pandemic," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 53(2 (Fall)), pages 81-156.
  49. Riccardo Lucchetti & Luca Pedini & Claudia Pigini, 2021. "Bayesian Model Averaging For Propensity Score Matching In Tax Rebate," Working Papers 457, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  50. Christopher D. Carroll & Edmund Crawley & Jiri Slacalek & Kiichi Tokuoka & Matthew N. White, 2020. "Sticky Expectations and Consumption Dynamics," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(3), pages 40-76, July.
  51. Kirill Borusyak & Xavier Jaravel & Jann Spiess, 2024. "Revisiting Event-Study Designs: Robust and Efficient Estimation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 91(6), pages 3253-3285.
  52. Arna Vardardottir & Michaela Pagel, 2016. "The Liquid Hand-to-Mouth: Evidence from a Personal Finance Management Software," 2016 Meeting Papers 789, Society for Economic Dynamics.
  53. Cameron LAPOINT & Takashi UNAYAMA, 2020. "Winners, Losers, and Near-Rationality: Heterogeneity in the MPC out of a Large Stimulus Tax Rebate," Discussion papers 20067, Research Institute of Economy, Trade and Industry (RIETI).
  54. Pauls, Thomas & Laudi, Marten, 2025. "Temporal framing of tax stimuli and household consumption," Journal of Economic Behavior & Organization, Elsevier, vol. 235(C).
  55. Scott R. Baker & Robert A Farrokhnia & Steffen Meyer & Michaela Pagel & Constantine Yannelis, 2023. "Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments," Review of Finance, European Finance Association, vol. 27(6), pages 2271-2304.
  56. Gelman, Michael & Kariv, Shachar & Shapiro, Matthew D. & Silverman, Dan & Tadelis, Steven, 2020. "How individuals respond to a liquidity shock: Evidence from the 2013 government shutdown," Journal of Public Economics, Elsevier, vol. 189(C).
  57. Kennedy, Austin, 2025. "Fiscal spillovers through informal financial channels," Journal of International Money and Finance, Elsevier, vol. 157(C).
  58. Sebastian Gechert & Andrew Hughes Hallett & Ansgar Rannenberg, 2016. "Fiscal multipliers in downturns and the effects of Euro Area consolidation," Applied Economics Letters, Taylor & Francis Journals, vol. 23(16), pages 1138-1140, November.
  59. Dmitry Arkhangelsky & Guido Imbens, 2023. "Causal Models for Longitudinal and Panel Data: A Survey," Papers 2311.15458, arXiv.org, revised Jun 2024.
  60. Yanqin Zhang & Xueli Zhang & Manzhi Liu, 2023. "A Study on the Factors Influencing Household Consumption from a Money Demand Perspective: Evidence from Chinese Urban Residents," Sustainability, MDPI, vol. 16(1), pages 1-18, December.
  61. Christopher Carroll & Jiri Slacalek & Kiichi Tokuoka & Matthew N. White, 2017. "The distribution of wealth and the marginal propensity to consume," Quantitative Economics, Econometric Society, vol. 8(3), pages 977-1020, November.
  62. Miguel Faria-e-Castro, 2019. "A Quantitative Analysis of Countercyclical Capital Buffers," Working Papers 2019-008, Federal Reserve Bank of St. Louis, revised 01 Jan 2020.
  63. Jianwei Xing & Eric Yongchen Zou & Zhentoa Yin & Yong Wang & Zhenhua Li, 2023. ""Quick Response" Economic Stimulus: The Effect of Small-Value Digital Coupons on Spending," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(4), pages 249-304, October.
  64. Kubota, So & Onishi, Koichiro & Toyama, Yuta, 2021. "Consumption responses to COVID-19 payments: Evidence from a natural experiment and bank account data," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 1-17.
  65. Yves Achdou & Jiequn Han & Jean-Michel Lasry & Pierre-Louis Lions & Benjamin Moll, 2017. "Income and Wealth Distribution in Macroeconomics: A Continuous-Time Approach," NBER Working Papers 23732, National Bureau of Economic Research, Inc.
  66. J. Michael Collins & Amrita Kulka, 2023. "Saving by buying ahead: stockpiling in response to lump‐sum payments," Fiscal Studies, John Wiley & Sons, vol. 44(4), pages 451-484, December.
  67. Daniel Green & Brian T. Melzer & Jonathan A. Parker & Arcenis Rojas, 2020. "Accelerator or Brake? Cash for Clunkers, Household Liquidity, and Aggregate Demand," American Economic Journal: Economic Policy, American Economic Association, vol. 12(4), pages 178-211, November.
  68. Neri, Andrea & Rondinelli, Concetta & Scoccianti, Filippo, 2017. "Household spending out of a tax rebate: Italian “€80 tax bonus”," Working Paper Series 2099, European Central Bank.
  69. Jonathan Cohen & Keith Marzilli Ericson & David Laibson & John Myles White, 2020. "Measuring Time Preferences," Journal of Economic Literature, American Economic Association, vol. 58(2), pages 299-347, June.
  70. David Powell, 2020. "Does Labor Supply Respond to Transitory Income? Evidence from the Economic Stimulus Payments of 2008," Journal of Labor Economics, University of Chicago Press, vol. 38(1), pages 1-38.
  71. Tomas Havranek & Anna Sokolova, 2020. "Do Consumers Really Follow a Rule of Thumb? Three Thousand Estimates from 144 Studies Say 'Probably Not'," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 35, pages 97-122, January.
  72. Terézia Vančová & Luboš Střelec, 2020. "Consumption Function in the Context of Cultural Affinity Zones," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 68(4), pages 797-806.
  73. Tarek A. Hassan & Thomas M. Mertens, 2017. "The Social Cost of Near-Rational Investment," American Economic Review, American Economic Association, vol. 107(4), pages 1059-1103, April.
  74. Olivia S. Kim & Jonathan A. Parker & Antoinette Schoar, 2020. "Revenue Collapses and the Consumption of Small Business Owners in the Early Stages of the COVID-19 Pandemic," NBER Working Papers 28151, National Bureau of Economic Research, Inc.
  75. Vagliasindi,Maria & Gorgulu,Nisan, 2021. "What Have We Learned about the Effectiveness of Infrastructure Investment as a FiscalStimulus ? A Literature Review," Policy Research Working Paper Series 9796, The World Bank.
  76. Sergio Salas & Kathleen Odell, 2020. "Financial Deepening, Credit Crises, Human Capital and Growth," Working Papers 2020-01, Escuela de Negocios y Economía, Pontificia Universidad Católica de Valparaíso.
  77. Nygaard, Vegard M. & Sørensen, Bent E. & Wang, Fan, 2022. "Optimal allocations to heterogeneous agents with an application to stimulus checks," Journal of Economic Dynamics and Control, Elsevier, vol. 138(C).
  78. Lucchetti, Riccardo & Pedini, Luca & Pigini, Claudia, 2022. "No such thing as the perfect match: Bayesian Model Averaging for treatment evaluation," Economic Modelling, Elsevier, vol. 107(C).
  79. Corsetti, Giancarlo & Brendon, Charles, 2016. "COEURE Survey: Fiscal and Monetary Policies after the Crises," CEPR Discussion Papers 11088, C.E.P.R. Discussion Papers.
  80. Jing Cynthia Wu & Yinxi Xie, 2025. "Unconventional Monetary and Fiscal Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 56, April.
  81. Greg Kaplan & Giovanni L. Violante & Justin Weidner, 2014. "The Wealthy Hand-to-Mouth," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 77-153.
  82. Miguel Faria-e-Castro, 2024. "Fiscal Multipliers and Financial Crises," The Review of Economics and Statistics, MIT Press, vol. 106(3), pages 728-747, May.
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