D12

Allen N. Berger · Onesime Epouhe · Raluca A. Roman

This paper examines the effects of the Troubled Asset Relief Program (TARP) and the Paycheck Protection Program (PPP)—two government bailout programs during the Global Financial Crisis and the …

Rüdiger Bachmann · Benjamin Born · Olga Goldfayn-Frank · Georgi Kocharkov · Ralph Luetticke · Michael Weber

The paper studies Germany's temporary 3 percentage-point VAT cut from July 1 to December 31, 2020 (standard rate 19%→16%, reduced rate 7%→5%), combining two causal identification strategies with …

Pol Campos-Mercade · Lorenz Goette · Thomas Graeber · Alexandre Kellogg · Charles Sprenger

This paper examines whether heterogeneity in individual gain-loss attitudes — the degree to which people weigh losses more or less severely than equivalent gains — contaminates prior tests of …

Panle Jia Barwick · Siyu Chen · Chao Fu · Teng Li

This paper estimates the causal effects of mobile app usage on college students' academic performance, physical health, and labor market outcomes, while separately identifying behavioral (endogenous) …

Renato Faccini · Seungcheol Lee · Ralph Luetticke · Morten O. Ravn · Tobias Renkin

How do consumer credit spreads — the gap between household borrowing rates and deposit rates — affect aggregate business cycle dynamics and the distribution of consumption across the wealth …

Daniel Lewis · Davide Melcangi · Laura Pilossoph

Lewis, Melcangi, and Pilossoph estimate the unconditional distribution of the marginal propensity to consume (MPC) using the 2008 Economic Stimulus Act (ESA) rebate payments, deploying Gaussian …

Jesper Böjeryd · Roine Vestman · Björn Tyrefors · Dany Kessel

This paper estimates a causal housing wealth effect on consumption using a quasi-natural experiment in Stockholm, Sweden. The identification exploits an unanticipated political decision — announced in …