. We apply the estimator to the 2008 tax rebate and household consumption data, exploiting the randomized timing of … disbursements. We find a considerable degree of heterogeneity in MPCs, which varies by consumption good, and provide evidence on … results suggest that the partial equilibrium consumption response to the stimulus was twice as large as what is implied by …

We estimate the unconditional distribution of the marginal propensity to consume (MPC) using clustering regression …

Using unique consumer financial transactions of more than 56,000 consumers, we study the consumption response to a …-in-differences analysis, we find a significant negative consumption response to the policy shock. Moreover, the consumption response is …-insurance mechanism for consumption smoothing …

consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead …

We estimate the distribution of marginal propensities to consume (MPCs) using a novel clustering approach that … the randomized timing of disbursements, and find considerable heterogeneity in MPCs that varies by consumption good. We …

of large prizes (USD 8,300-150,000) is slightly below one half. While the consumption responses we find are high, their …