NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Economic Stimulus Payments of 2008 and the Aggregate Demand for Consumption

Christian Broda, Jonathan A. Parker

NBER Working Paper No. 20122
Issued in May 2014

---- Acknowledgments ----

We thank the Sloan School of Management at MIT, the Kellogg School of Management at Northwestern University, the Initiative for Global Markets at the University of Chicago, and the Zell Center at the Kellogg School of Management for funding for the survey and data. Parker thanks the Laboratory for Applied Economics and Policy at Harvard for funding. For helpful comments on our research, we thank: Jordi Gali, Daniel Green, Greg Kaplan, Sam Schulhofer-Wohl, Nicholas Souleles, two anonymous referees on our grant application, and participants in numerous seminars and conferences. We would also like to thank Ed Grove, Matt Knain and Molly Hagen at ACNielsen. All results are calculated based on data from the Nielsen Company (US), LLC and provided by the Marketing Data Center at The University of Chicago Booth School of Business. This paper updates and replaces the earlier analysis in Broda and Parker (2008). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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