Direct Stimulus Payments to Individuals
91
Broda, Christian, and Jonathan A. Parker. 2014. “e Economic Stimulus Payments of 2008 and the
Aggregate Demand for Consumption.” Journal of Monetary Economics 68: 20–36.
Bureau of Economic Analysis. 1969–2018. “Table 1.1.6. Real Gross Domestic Product, Chained
Dollars: Personal Consumption Expenditures.” Last revised on December 21, 2018. U.S.
Department of Commerce, Suitland, MD.
———. 2009. “Government Receipts and Expenditures: ird Quarter of 2009.” Survey of Current
Business 89 (12): 11–14.
———. 2015. “Federal Recovery Programs and BEA Statistics: Tax Provisions.” Last updated August
27, 2015. U.S. Department of Commerce, Suitland, MD.
Bureau of Labor Statistics. 1969–2019. “Civilian Unemployment Rate.” Bureau of Labor Statistics,
Washington DC. Retrieved from ALFRED, Federal Reserve Bank of St. Louis, St. Louis, MO.
Carroll, Christopher, Jiri Slacalek, Kiichi Tokuoka, and Matthew N. White. 2017. “e Distribution
of Wealth and the Marginal Propensity to Consume.” Quantitative Economics 8: 977–1020.
Cashin, David, Jamie Lenney, Byron Lutz, and William Peterman. 2018. “Fiscal Policy and
Aggregate Demand in the USA Before, During, and Following the Great Recession.”
International Tax and Public Finance 25 (6): 1519–58.
Congressional Budget Oce (CBO). 2019. “An Update to the Budget and Economic Outlook: 2019 to
2029.” Congressional Budget Oce, Washington, DC.
Davis, Steven J. and Till von Wachter. 2011. “Recessions and the Costs of Job Loss.” Brookings Papers
on Economic Activity, 2011 (2): 1–72.
Economic Stimulus Act, Pub.L. 110–185, 122 Stat. 613 (2008).
Engstrom, Eric, and Steve Sharpe. 2018. “e Near-Term Forward Yield Spread as a Leading
Indicator: A Less Distorted Mirror.” Finance and Economics Discussion Series No. 2018-055,
Federal Reserve Board, Washington, D.C.
Epley, Nicholas, Dennis Mak, and Lorraine Chen Idson. 2006. “Bonus of Rebate?: e Impact of
Income Framing on Spending and Saving.” Journal of Behavioral Decision Making 19 (3):
213–27.
Graziani, Grant, Wilbert van der Klaauw, and Basit Zafar. 2016. “Workers’ Spending Response to the
2011 Payroll Tax Cuts.” American Economic Journal: Economic Policy 8 (4): 124–59.
Johnson, David, Jonathan A. Parker, and Nicholas S. Souleles. 2006. “Household Expenditure and
the Income Tax Rebates of 2001.” American Economic Review 95 (5): 1589–610.
Joint Committee on Taxation. 2008. “Overview of Past Tax Legislation Providing Fiscal Stimulus
and Issues in Designing and Delivering a Cash Rebate to Individuals.” U.S. Congress Joint
Committee on Taxation, Washington, DC.
Kaplan, Greg, and Giovanni L. Violante. 2014. “A Model of the Consumption Response to Fiscal
Stimulus Payments.” Econometrica 82 (4): 1199–239.
Kueng, Lorenz. 2018. “Excess Sensitivity of High-Income Consumers.” e Quarterly Journal of
Economics 133 (4): 1693–1751.
Leigh, Andrew. 2012. “How Much Did the 2009 Australian Fiscal Stimulus Boost Demand? Evidence
from Household-Reported Spending Eects.” e B.E. Journal of Macroeconomics. 12 (1):
1935–1960.
Middle Class Tax Relief and Job Creation Act of 2012 Pub.L. 112–96, H.R. 3630, 126 Stat. 156 (2012).
Misra, Kanishka, and Paolo Surico. 2014. “Consumption, Income Changes, and Heterogeneity:
Evidence from Two Fiscal Stimulus Programs.” American Economic Journal: Macroeconomics
6 (4): 84–106.
Parker, Jonathan A. 2017. “Why Don’t Households Smooth Consumption? Evidence from a $25
Million Experiment.” American Economic Journal: Macroeconomics 9 (4): 153–83.
Parker, Jonathan A., and Nicholas S. Souleles. Forthcoming. “Reported Eects vs. Revealed
Preference Estimates: Evidence from the Propensity to Spend Tax Rebates.” American
Economic Review: Insights.
Parker, Jonathan A., Nicholas S. Souleles, David S. Johnson, and Robert McClelland. 2013.
“Consumer Spending and the Economic Stimulus Payments of 2008.” American Economic
Review 103 (6): 2530–53.