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Replication data for: Liquidity Constraint Tightness and Consumer Responses to Fiscal Stimulus Policy

Version
V0
Resource Type
Dataset
Creator
  • Kreiner, Claus Thustrup
  • Dreyer Lassen, David
  • Leth-Petersen, Søren
Publication Date
2019-02-01
Description
  • Abstract

    The 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.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/pol.20140313 (Text)
Publications
  • Kreiner, Claus Thustrup, David Dreyer Lassen, and Søren Leth-Petersen. “Liquidity Constraint Tightness and Consumer Responses to Fiscal Stimulus Policy.” American Economic Journal: Economic Policy 11, no. 1 (February 2019): 351–79. https://doi.org/10.1257/pol.20140313.
    • ID: 10.1257/pol.20140313 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07

Kreiner, Claus Thustrup; Dreyer Lassen, David; Leth-Petersen, Søren (2019): Replication data for: Liquidity Constraint Tightness and Consumer Responses to Fiscal Stimulus Policy. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116509