{"id":"https://openalex.org/W2187366138","doi":"https://doi.org/10.1257/pol.20140313","title":"Liquidity Constraint Tightness and Consumer Responses to Fiscal Stimulus Policy","display_name":"Liquidity Constraint Tightness and Consumer Responses to Fiscal Stimulus Policy","publication_year":2019,"publication_date":"2019-01-30","ids":{"openalex":"https://openalex.org/W2187366138","doi":"https://doi.org/10.1257/pol.20140313","mag":"2187366138"},"language":"en","primary_location":{"id":"doi:10.1257/pol.20140313","doi":"https://doi.org/10.1257/pol.20140313","is_oa":false,"landing_page_url":"https://doi.org/10.1257/pol.20140313","pdf_url":null,"source":{"id":"https://openalex.org/S158011328","display_name":"American Economic Journal Economic Policy","issn_l":"1945-7731","issn":["1945-7731","1945-774X","1945-7812"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Journal: Economic Policy","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://researchprofiles.ku.dk/da/publications/5ac2b167-e813-44c0-a323-3a990c0a624c","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5084179523","display_name":"Claus Thustrup Kreiner","orcid":"https://orcid.org/0000-0001-6421-492X","observed_orcids":["https://orcid.org/0000-0001-6421-492X"]},"institutions":[{"id":"https://openalex.org/I124055696","display_name":"University of Copenhagen","ror":"https://ror.org/035b05819","country_code":"DK","type":"education","lineage":["https://openalex.org/I124055696"]}],"countries":["DK"],"is_corresponding":false,"raw_author_name":"Claus Thustrup Kreiner","raw_affiliation_strings":["University of Copenhagen, \u00d8ster Farimagsgade 5, DK-1353 Copenhagen K, Denmark, CEBI, and CEPR (email: )"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Copenhagen, \u00d8ster Farimagsgade 5, DK-1353 Copenhagen K, Denmark, CEBI, and CEPR (email: )","institution_ids":["https://openalex.org/I124055696"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5026931667","display_name":"David Dreyer Lassen","orcid":"https://orcid.org/0000-0002-4368-9851","observed_orcids":["https://orcid.org/0000-0002-4368-9851"]},"institutions":[{"id":"https://openalex.org/I124055696","display_name":"University of Copenhagen","ror":"https://ror.org/035b05819","country_code":"DK","type":"education","lineage":["https://openalex.org/I124055696"]}],"countries":["DK"],"is_corresponding":false,"raw_author_name":"David Dreyer Lassen","raw_affiliation_strings":["University of Copenhagen, \u00d8ster Farimagsgade 5, DK-1353 Copenhagen K, Denmark, and CEBI (email: )"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Copenhagen, \u00d8ster Farimagsgade 5, DK-1353 Copenhagen K, Denmark, and CEBI (email: )","institution_ids":["https://openalex.org/I124055696"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5021604824","display_name":"S\u00f8ren Leth\u2010Petersen","orcid":"https://orcid.org/0000-0002-5585-3102","observed_orcids":["https://orcid.org/0000-0002-5585-3102"]},"institutions":[{"id":"https://openalex.org/I124055696","display_name":"University of Copenhagen","ror":"https://ror.org/035b05819","country_code":"DK","type":"education","lineage":["https://openalex.org/I124055696"]}],"countries":["DK"],"is_corresponding":false,"raw_author_name":"S\u00f8ren Leth-Petersen","raw_affiliation_strings":["University of Copenhagen, \u00d8ster Farimagsgade 5, DK-1353 Copenhagen K, Denmark, CEBI, and CEPR (email: )"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Copenhagen, \u00d8ster Farimagsgade 5, DK-1353 Copenhagen K, Denmark, CEBI, and CEPR (email: )","institution_ids":["https://openalex.org/I124055696"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I124055696"],"apc_list":null,"apc_paid":null,"fwci":14.0317,"has_fulltext":true,"cited_by_count":40,"citation_normalized_percentile":{"value":0.98613703,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"11","issue":"1","first_page":"351","last_page":"379"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.6610999703407288,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.6610999703407288,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.24690000712871552,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13042","display_name":"Economic and Fiscal Studies","score":0.04899999871850014,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/liquidity-constraints","display_name":"liquidity constraints","score":0.8199999928474426},{"id":"https://openalex.org/keywords/fiscal-stimulus","display_name":"fiscal stimulus","score":0.6890000104904175},{"id":"https://openalex.org/keywords/stimulus-payments","display_name":"stimulus payments","score":0.8799999952316284},{"id":"https://openalex.org/keywords/consumption-response","display_name":"consumption response","score":0.5210000276565552},{"id":"https://openalex.org/keywords/retirement-wealth","display_name":"pension wealth","score":0.8320000171661377},{"id":"https://openalex.org/keywords/household-expenditure","display_name":"household expenditure","score":0.6579999923706055}],"concepts":[{"id":"https://openalex.org/C2779918689","wikidata":"https://www.wikidata.org/wiki/Q3771842","display_name":"Stimulus (psychology)","level":2,"score":0.7595629096031189},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.6821276545524597},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6099830269813538},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5183395147323608},{"id":"https://openalex.org/C524878704","wikidata":"https://www.wikidata.org/wiki/Q187021","display_name":"Fiscal policy","level":2,"score":0.48701268434524536},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.3233506977558136},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.176395446062088},{"id":"https://openalex.org/C180747234","wikidata":"https://www.wikidata.org/wiki/Q23373","display_name":"Cognitive psychology","level":1,"score":0.1542612612247467}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1257/pol.20140313","doi":"https://doi.org/10.1257/pol.20140313","is_oa":false,"landing_page_url":"https://doi.org/10.1257/pol.20140313","pdf_url":null,"source":{"id":"https://openalex.org/S158011328","display_name":"American Economic Journal Economic Policy","issn_l":"1945-7731","issn":["1945-7731","1945-774X","1945-7812"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Journal: Economic Policy","raw_type":"journal-article"},{"id":"pmh:oai:pure.atira.dk:openaire/5ac2b167-e813-44c0-a323-3a990c0a624c","doi":null,"is_oa":true,"landing_page_url":"https://researchprofiles.ku.dk/da/publications/5ac2b167-e813-44c0-a323-3a990c0a624c","pdf_url":null,"source":{"id":"https://openalex.org/S4306401983","display_name":"Research at the University of Copenhagen (University of Copenhagen)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I124055696","host_organization_name":"University of Copenhagen","host_organization_lineage":["https://openalex.org/I124055696"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Kreiner, C T, Lassen, D D & Leth-Petersen, S 2019, 'Liquidity Constraint Tightness and Consumer Responses to Fiscal Stimulus Policy', American Economic Journal: Economic Policy, vol. 11, no. 1, pp. 351-379. https://doi.org/10.1257/pol.20140313","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:RePEc:aea:aejpol:v:11:y:2019:i:1:p:351-79","doi":null,"is_oa":true,"landing_page_url":"https://www.aeaweb.org/articles/pdf/doi/10.1257/pol.20140313","pdf_url":"https://www.aeaweb.org/articles/attachments?retrieve=9Hsx2432Eu4F5cdShaixj-n1nUInTGTo","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.640.5640","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.640.5640","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.econ.ku.dk/leth/Papers/SP_v34.pdf","raw_type":"text"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.725.3833","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.725.3833","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.econ.ku.dk/leth/Papers/Danish_SP_Stimulus%20Aug%202014.pdf","raw_type":"text"}],"best_oa_location":{"id":"pmh:oai:pure.atira.dk:openaire/5ac2b167-e813-44c0-a323-3a990c0a624c","doi":null,"is_oa":true,"landing_page_url":"https://researchprofiles.ku.dk/da/publications/5ac2b167-e813-44c0-a323-3a990c0a624c","pdf_url":null,"source":{"id":"https://openalex.org/S4306401983","display_name":"Research at the University of Copenhagen (University of Copenhagen)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I124055696","host_organization_name":"University of Copenhagen","host_organization_lineage":["https://openalex.org/I124055696"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Kreiner, C T, Lassen, D D & Leth-Petersen, S 2019, 'Liquidity Constraint Tightness and Consumer Responses to Fiscal Stimulus Policy', American Economic Journal: Economic Policy, vol. 11, no. 1, pp. 351-379. https://doi.org/10.1257/pol.20140313","raw_type":"info:eu-repo/semantics/article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.5299999713897705}],"study_designs":[{"display_name":"Observational Study","id":"https://openalex.org/study-designs/observational-study"}],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":38,"referenced_works":["https://openalex.org/W1495253250","https://openalex.org/W1496476682","https://openalex.org/W1566044933","https://openalex.org/W1591398478","https://openalex.org/W1972964082","https://openalex.org/W1987285598","https://openalex.org/W2019484213","https://openalex.org/W2030691535","https://openalex.org/W2032968578","https://openalex.org/W2057058497","https://openalex.org/W2059979320","https://openalex.org/W2088663850","https://openalex.org/W2088962682","https://openalex.org/W2104120733","https://openalex.org/W2105135640","https://openalex.org/W2114357420","https://openalex.org/W2120170284","https://openalex.org/W2126729239","https://openalex.org/W2130136629","https://openalex.org/W2142965569","https://openalex.org/W2144969436","https://openalex.org/W2153510573","https://openalex.org/W2225433570","https://openalex.org/W2236924981","https://openalex.org/W2474980071","https://openalex.org/W2546435140","https://openalex.org/W2892197067","https://openalex.org/W3121457748","https://openalex.org/W3121687806","https://openalex.org/W3121865082","https://openalex.org/W3122021056","https://openalex.org/W3123351164","https://openalex.org/W3124595787","https://openalex.org/W3124658309","https://openalex.org/W3125133885","https://openalex.org/W3125184571","https://openalex.org/W3125722631","https://openalex.org/W4213183334"],"related_works":["https://openalex.org/W2197506305","https://openalex.org/W7135848023","https://openalex.org/W3122190898","https://openalex.org/W3125920750","https://openalex.org/W4296436290","https://openalex.org/W2597912899","https://openalex.org/W7117541546","https://openalex.org/W7008698748","https://openalex.org/W7164403512","https://openalex.org/W3171042311"],"abstract_inverted_index":{"The":[0,82],"marginal":[1,21,88],"interest":[2,22,58,89,95],"rate":[3],"is":[4,38],"the":[5,29,41,75,79],"price":[6],"at":[7],"which":[8],"a":[9,33,44],"household":[10],"can":[11],"access":[12],"additional":[13],"liquidity.":[14],"Consumption":[15],"theory":[16],"posits":[17],"that":[18,49],"variation":[19,86],"in":[20,28,40,87],"rates":[23,59,90,96],"across":[24,91],"consumers":[25],"predicts":[26],"differences":[27],"propensity":[30],"to":[31,78],"spend":[32],"stimulus":[34,47,80],"payment.":[35],"This":[36],"hypothesis":[37],"tested":[39],"context":[42],"of":[43],"Danish":[45],"2009":[46],"policy":[48],"transformed":[50],"illiquid":[51],"pension":[52],"wealth":[53],"into":[54],"liquid":[55],"wealth.":[56],"Marginal":[57],"are":[60],"constructed":[61],"from":[62],"administrative":[63],"records":[64],"with":[65,71],"account":[66],"level":[67],"information":[68],"and":[69,93],"merged":[70],"survey":[72],"data":[73,83],"measuring":[74],"spending":[76,98],"response":[77],"policy.":[81],"reveal":[84],"substantial":[85],"consumers,":[92],"these":[94],"predict":[97],"responses.":[99],"(JEL":[100],"D14,":[101],"D15,":[102],"E21,":[103],"E43,":[104],"E62)":[105]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":5},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":9},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":7},{"year":2019,"cited_by_count":4},{"year":2018,"cited_by_count":1},{"year":2015,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}