Why China’s Pandemic Stimulus Worked Better Than the US’s
Research finds China’s digital coupon programs were a cost-effective way to boost spending.
Why China’s Pandemic Stimulus Worked Better Than the US’sReceiving a check can feel rewarding; the tedious chore of traveling to the bank and cashing it often doesn’t. Individuals who prize immediate gratification tend to be impatient to receive a check, but then put off cashing it. This behavior is confirmed in a field experiment conducted by Columbia University’s Ernesto Reuben, Northwestern’s Paola Sapienza, and Chicago Booth’s Luigi Zingales. In the study, impatient participants chose to receive a check immediately rather than wait to receive a larger check in two weeks, but many then waited more than three weeks to cash it.
Research finds China’s digital coupon programs were a cost-effective way to boost spending.
Why China’s Pandemic Stimulus Worked Better Than the US’sThe former governor of the Reserve Bank of India discusses the Fed’s role in the US economy and analyzes its response to the pandemic.
Who Does Raghuram Rajan Blame for Inflation?The answer will have major implications for US and global markets.
If Big Tech Is a Problem, What’s the Solution?Your Privacy
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