000			02103nab a2200301 c 4500
003			ES-MaIEF
005			20190305132948.0
007			ta
008			190304t2019 us ||||| |||| 00| 0|eng d
040			_aES-MaIEF _bspa _cES-MaIEF
041			_aeng
100	1		_913457 _aThustrup Kreiner, Claus
245		0	_aLiquidity constraint tightness and consumer responses to fiscal stimulus policy _c by Claus Trustrup Kreiner, David Dreyer Lassen and Soren Leth - Petersen
260			_c2019
500			_aDisponible también en formato electrónico en la Biblioteca del IEF.
500			_aResumen.
520			_aThe marginal interest rate is the price at which a household can access additional liquidity. Consumption theory posits that variation in marginal interest rates across consumers predicts differences in the propensity to spend a stimulus payment. This hypothesis is tested in the context of a Danish 2009 stimulus policy that transformed illiquid pension wealth into liquid wealth. Marginal interest rates are constructed from administrative records with account level information and merged with survey data measuring the spending response to the stimulus policy. The data reveal substantial variation in marginal interest rates across consumers, and these interest rates predict spending responses.
650		4	_948526 _aTASAS
650		4	_947502 _aINTERES
650		4	_948569 _aTIPOS
650		4	_948067 _aPOLITICA FISCAL
650		4	_947462 _aINCENTIVOS FISCALES
700	1		_952302 _aDreyer Lassen, David
700			_964804 _aLeth Petersen, Søren
773	0		_9159523 _oOP 2135/2019/1 _tAmerican Economic Journal. Economic Policy _w(IEF)134825 _x 1945-7731 _g v. 11, n. 1, February 2019, p. 351-379
856			_uhttp://resolver.ebscohost.com/openurl?sid=EBSCO:eoh&genre=article&issn=19457731&ISBN=&volume=11&issue=1&date=20190201&spage=351&pages=351-379&title=American%20Economic%20Journal:%20Economic%20Policy&atitle=Liquidity%20Constraint%20Tightness%20and%20Consumer%20Responses%20to%20Fiscal%20Stimulus%20Policy&aulast=Kreiner%2C%20Claus%20Thustrup&id=DOI:
942			_cART
999			_c140091 _d140091