{"id":"https://openalex.org/W4290960168","doi":"https://doi.org/10.1146/annurev-economics-051420-020618","title":"Helicopter Money: What Is It and What Does It Do?","display_name":"Helicopter Money: What Is It and What Does It Do?","publication_year":2022,"publication_date":"2022-04-28","ids":{"openalex":"https://openalex.org/W4290960168","doi":"https://doi.org/10.1146/annurev-economics-051420-020618"},"language":"en","primary_location":{"id":"doi:10.1146/annurev-economics-051420-020618","doi":"https://doi.org/10.1146/annurev-economics-051420-020618","is_oa":false,"landing_page_url":"https://doi.org/10.1146/annurev-economics-051420-020618","pdf_url":null,"source":{"id":"https://openalex.org/S196715598","display_name":"Annual Review of Economics","issn_l":"1941-1383","issn":["1941-1383","1941-1391"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-2","norway-1","poland-200","russia-white-list-1"],"host_organization":"https://openalex.org/P4310320373","host_organization_name":"Annual Reviews","host_organization_lineage":["https://openalex.org/P4310320373"],"host_organization_lineage_names":["Annual Reviews"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Annual Review of Economics","raw_type":"journal-article"},"volume":null,"type":"review","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://researchonline.lse.ac.uk/id/eprint/114593/1/Helicopter_money._What_is_it_and_what_does_it_do..pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5006318958","display_name":"Ricardo A.M.R. Reis","orcid":"https://orcid.org/0000-0003-4844-9483","observed_orcids":["https://orcid.org/0000-0003-4844-9483"]},"institutions":[{"id":"https://openalex.org/I4210140326","display_name":"Centre for Economic Policy Research","ror":"https://ror.org/04jzmdh37","country_code":"GB","type":"nonprofit","lineage":["https://openalex.org/I4210140326"]},{"id":"https://openalex.org/I46860202","display_name":"Bank of England","ror":"https://ror.org/04p3y0q03","country_code":"GB","type":"other","lineage":["https://openalex.org/I46860202"]},{"id":"https://openalex.org/I909854389","display_name":"London School of Economics and Political Science","ror":"https://ror.org/0090zs177","country_code":"GB","type":"education","lineage":["https://openalex.org/I124357947","https://openalex.org/I909854389"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Ricardo Reis","raw_affiliation_strings":["Department of Economics, London School of Economics and Political Science, London, United Kingdom;,","London School of Economics, Bank of England and CEPR"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, London School of Economics and Political Science, London, United Kingdom;,","institution_ids":["https://openalex.org/I909854389"]},{"raw_affiliation_string":"London School of Economics, Bank of England and CEPR","institution_ids":["https://openalex.org/I4210140326","https://openalex.org/I46860202","https://openalex.org/I909854389"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5053384308","display_name":"Silvana Tenreyro","orcid":"https://orcid.org/0000-0002-9816-7452","observed_orcids":["https://orcid.org/0000-0002-9816-7452"]},"institutions":[{"id":"https://openalex.org/I4210140326","display_name":"Centre for Economic Policy Research","ror":"https://ror.org/04jzmdh37","country_code":"GB","type":"nonprofit","lineage":["https://openalex.org/I4210140326"]},{"id":"https://openalex.org/I46860202","display_name":"Bank of England","ror":"https://ror.org/04p3y0q03","country_code":"GB","type":"other","lineage":["https://openalex.org/I46860202"]},{"id":"https://openalex.org/I909854389","display_name":"London School of Economics and Political Science","ror":"https://ror.org/0090zs177","country_code":"GB","type":"education","lineage":["https://openalex.org/I124357947","https://openalex.org/I909854389"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Silvana Tenreyro","raw_affiliation_strings":["Bank of England, London, United Kingdom","Department of Economics, London School of Economics and Political Science, London, United Kingdom;,","London School of Economics, Bank of England and CEPR"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Bank of England, London, United Kingdom","institution_ids":["https://openalex.org/I46860202"]},{"raw_affiliation_string":"Department of Economics, London School of Economics and Political Science, London, United Kingdom;,","institution_ids":["https://openalex.org/I909854389"]},{"raw_affiliation_string":"London School of Economics, Bank of England and CEPR","institution_ids":["https://openalex.org/I4210140326","https://openalex.org/I46860202","https://openalex.org/I909854389"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.3984,"has_fulltext":true,"cited_by_count":20,"citation_normalized_percentile":{"value":0.63888889,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":95,"max":98},"biblio":{"volume":"14","issue":"1","first_page":"313","last_page":"335"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9872999787330627,"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"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9872999787330627,"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/T12137","display_name":"Economic theories and models","score":0.008500000461935997,"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"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.0017000000225380063,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/helicopter-money","display_name":"helicopter money","score":1.0},{"id":"https://openalex.org/keywords/monetary-policy","display_name":"monetary policy","score":0.8410000205039978},{"id":"https://openalex.org/keywords/policy-transmission-channels","display_name":"policy transmission channels","score":0.7620000243186951},{"id":"https://openalex.org/keywords/fiscal-policy","display_name":"fiscal policy","score":0.5699999928474426},{"id":"https://openalex.org/keywords/financial-crises","display_name":"financial crisis","score":0.7720000147819519},{"id":"https://openalex.org/keywords/fiscal-crisis","display_name":"fiscal crisis","score":0.9769999980926514},{"id":"https://openalex.org/keywords/covid-19","display_name":"COVID-19 pandemic","score":0.9049999713897705},{"id":"https://openalex.org/keywords/neutrality-of-money","display_name":"monetary neutrality","score":0.4830000102519989},{"id":"https://openalex.org/keywords/economic-shocks","display_name":"economic shocks","score":0.40799999237060547}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6511404514312744},{"id":"https://openalex.org/C185798385","wikidata":"https://www.wikidata.org/wiki/Q1161707","display_name":"Benchmark (surveying)","level":2,"score":0.5528068542480469},{"id":"https://openalex.org/C177264268","wikidata":"https://www.wikidata.org/wiki/Q1514741","display_name":"Set (abstract data type)","level":2,"score":0.513542652130127},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.502631664276123},{"id":"https://openalex.org/C2991917167","wikidata":"https://www.wikidata.org/wiki/Q1598018","display_name":"Real economy","level":2,"score":0.4783898591995239},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.471407413482666},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.422260582447052},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.3896045982837677},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.19102731347084045},{"id":"https://openalex.org/C13280743","wikidata":"https://www.wikidata.org/wiki/Q131089","display_name":"Geodesy","level":1,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1146/annurev-economics-051420-020618","doi":"https://doi.org/10.1146/annurev-economics-051420-020618","is_oa":false,"landing_page_url":"https://doi.org/10.1146/annurev-economics-051420-020618","pdf_url":null,"source":{"id":"https://openalex.org/S196715598","display_name":"Annual Review of Economics","issn_l":"1941-1383","issn":["1941-1383","1941-1391"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-2","norway-1","poland-200","russia-white-list-1"],"host_organization":"https://openalex.org/P4310320373","host_organization_name":"Annual Reviews","host_organization_lineage":["https://openalex.org/P4310320373"],"host_organization_lineage_names":["Annual Reviews"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Annual Review of Economics","raw_type":"journal-article"},{"id":"pmh:oai:researchonline.lse.ac.uk:114593","doi":null,"is_oa":true,"landing_page_url":"https://orcid.org/0000-0003-4844-9483>","pdf_url":"https://researchonline.lse.ac.uk/id/eprint/114593/1/Helicopter_money._What_is_it_and_what_does_it_do..pdf","source":{"id":"https://openalex.org/S4306401593","display_name":"London School of Economics and Political Science Research Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Article"},{"id":"pmh:oai:eprints.lse.ac.uk:114593","doi":null,"is_oa":false,"landing_page_url":"https://orcid.org/0000-0003-4844-9483>","pdf_url":null,"source":{"id":"https://openalex.org/S4306401593","display_name":"London School of Economics and Political Science Research Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Article"},{"id":"pmh:oai:RePEc:ehl:lserod:114593","doi":null,"is_oa":false,"landing_page_url":"http://eprints.lse.ac.uk/114593/","pdf_url":null,"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":"preprint"}],"best_oa_location":{"id":"pmh:oai:researchonline.lse.ac.uk:114593","doi":null,"is_oa":true,"landing_page_url":"https://orcid.org/0000-0003-4844-9483>","pdf_url":"https://researchonline.lse.ac.uk/id/eprint/114593/1/Helicopter_money._What_is_it_and_what_does_it_do..pdf","source":{"id":"https://openalex.org/S4306401593","display_name":"London School of Economics and Political Science Research Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320320300","display_name":"European Commission","ror":"https://ror.org/00k4n6c32"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4290960168.pdf","grobid_xml":"https://content.openalex.org/works/W4290960168.grobid-xml"},"referenced_works_count":26,"referenced_works":["https://openalex.org/W988647837","https://openalex.org/W1485189559","https://openalex.org/W1508198902","https://openalex.org/W2024294550","https://openalex.org/W2047560619","https://openalex.org/W2073525601","https://openalex.org/W2098150816","https://openalex.org/W2106448615","https://openalex.org/W2138691480","https://openalex.org/W2141645256","https://openalex.org/W2144395073","https://openalex.org/W2218083010","https://openalex.org/W2621261641","https://openalex.org/W2737312672","https://openalex.org/W2891868323","https://openalex.org/W2897769109","https://openalex.org/W2898849676","https://openalex.org/W2921622509","https://openalex.org/W3005235448","https://openalex.org/W3028397039","https://openalex.org/W3130288787","https://openalex.org/W3133081804","https://openalex.org/W3186968890","https://openalex.org/W4236004730","https://openalex.org/W4239777744","https://openalex.org/W6964760188"],"related_works":["https://openalex.org/W4327905851","https://openalex.org/W2534484611","https://openalex.org/W3005235448","https://openalex.org/W3036260690","https://openalex.org/W4390713362","https://openalex.org/W3016783916","https://openalex.org/W2593260022","https://openalex.org/W1716428002","https://openalex.org/W3010236700","https://openalex.org/W3122223615"],"abstract_inverted_index":{"We":[0,82],"review":[1],"the":[2,10,14,22,66,84,90],"different":[3],"meanings":[4],"of":[5,48,51,59,74,102],"helicopter":[6,26,62,78,93],"money,":[7],"both":[8],"in":[9,13,97],"literature":[11],"and":[12,19,88,112],"public":[15],"debate":[16],"around":[17],"it,":[18],"we":[20,38],"clarify":[21],"conditions":[23,75],"under":[24,76],"which":[25,77],"money":[27,63,79],"can":[28],"have":[29,96],"an":[30],"impact":[31,91],"on":[32],"real":[33],"activity.":[34],"To":[35],"do":[36],"so,":[37],"set":[39,73],"out":[40],"a":[41,46,57,71,100,106,109,113],"simple":[42],"model":[43,55,85],"that":[44,92],"encapsulates":[45],"number":[47,101],"potential":[49],"channels":[50],"policy":[52],"transmission.":[53],"The":[54],"provides":[56],"taxonomy":[58],"possibilities":[60],"for":[61],"to":[64,86,99],"affect":[65],"economy,":[67],"as":[68,70],"well":[69],"benchmark":[72],"is":[80],"neutral.":[81],"use":[83],"analyze":[87],"discuss":[89],"drops":[94],"might":[95],"response":[98],"economic":[103],"shocks,":[104],"including":[105],"financial":[107],"crisis,":[108,111],"fiscal":[110],"pandemic.":[114]},"counts_by_year":[{"year":2026,"cited_by_count":5},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":7}],"updated_date":"2026-11-10T11:39:43.021295","created_date":"2022-08-13T00:00:00"}
