Micro MPCs and Macro Counterfactuals: The Case of the 2008 RebatesJacob D Orchard · Valerie A Ramey · Johannes F Wieland
Do the high marginal propensities to consume (MPCs) estimated in the leading household studies of the 2008 U.S. tax rebates—particularly Parker et al. (2013), which found MPCs of 50–90 percent within …