Claudia Sahm, Joel Slemrod, and Matthew Shapiro have the baton on the effects of direct payments to people in cushioning the fall in aggregate demand during a recession. There are good reasons to fear that this supply shock induced recession will be different. But at the moment it is the best we got: Claudia Sahm: 'Research on payments to people in recessions... https://twitter.com/Claudia_Sahm/status/1243504127407243266 here are our past papers (with Joel Slemrod [and Matthew Shapiro]): 2008 payments: http://www-personal.umich.edu/~shapiro/papers/w15421.pdf. 2008 payments vs 2009-10 Making Work Pay tax credits: http://www-personal.umich.edu/~shapiro/papers/aejep2012.pdf. 2011-12 payroll tax cut: http://www-personal.umich.edu/~shapiro/papers/PayrollTaxes_SSS.pdf...


#noted #2020-03-27

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