bank accounts instead of cash. We investigate the effects on savings behavior and downstream outcomes such as assets and … trust. We find, on average, no significant impact on overall savings or downstream outcomes. However, among individuals with … nonpositive balances prior to the offering, we observe an increase in balances in savings accounts and in the transactional …

Keynesian model. Relative to Representative Agent (RANK) models, our framework introduces a precautionary-savings channel, as … propensities to consume (MPC). While both channels amplify the size of spillovers/spillbacks, only precautionary savings can change …