. Targeting payments to high-MPC individuals could be partly undone. Further, the aggregate MPC out of a stimulus payment need not … equal the population-average MPC, even if all individuals receive the same payment. …

stimulus payments to high-MPC individuals could be partly undone, and that the aggregate MPC out of a stimulus payment need not … equal the population-average MPC. …

. Targeting payments to high-MPC individuals could be partly undone. Further, the aggregate MPC out of a stimulus payment need not … equal the population-average MPC, even if all individuals receive the same payment …

- we employ data of 22 European countries to assess the role of heterogeneity of the marginal propensity to consume (MPC …) for fiscal policy in the Euro area. We document an average MPC of 0.46 in the Euro area and illustrate its heterogeneity … (empirically measured heterogeneity of) MPC affects fiscal policy and makes it more effective in stimulating GDP growth than under …