Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/340777 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Public Economics Plus [ISSN:] 2666-5514 [Volume:] 2 [Article No.:] 100005 [Year:] 2021 [Pages:] 1-10
Publisher: 
Elsevier, Amsterdam
Abstract: 
MPCs were directly elicited from a representative sample of UK adults in July 2020 using receipt of a hypothetical unanticipated, one-time income payment. Reported MPCs are modest, around 11% on average. They are higher, but still modest, for individuals in households with high current needs. Significant fractions of respondents report they would use a windfall to pay down debt, or that they would change their transfer payments to or from family and friends. The latter means that the aggregate MPC out of a stimulus payment need not equal the population-average MPC.
Subjects: 
Spending
MPC
Crowding out
COVID-19
JEL: 
D12
D14
E21
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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