Uncovering MPC Heterogeneity: Insights from US COVID-19 Stimulus Payments
This paper uncovers heterogeneity in the Marginal Propensity to Consume (MPC) from the three rounds of US COVID-19 stimulus payments. Using a novel clustering method to group households by consumption changes, we estimate the full unconditional MPC distribution via a two-stage least squares approach...
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| Format: | Thesis (University of Nottingham only) |
| Language: | English |
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2023
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| Online Access: | https://eprints.nottingham.ac.uk/76506/ |