Stimulating Auto Markets

We thank Jediphi Cabal, Tomaz Cajner, Gabriel Chodorow-Reich, Sebastian Dyrda, Francois Gourio, Anil Kashyap, Ethan Ilzetzki, Andrea Lanteri, Guido Lorenzoni, Peter Maxted, David Mericle, Emi Nakamura, Pascal Noel, Matt Notowidigdo, Jon Steinsson, Chad Syverson, Gianluca Violante, Iván Werning, Nicolas Werquin, and seminar and conference participants for comments, ideas, and help with data. We thank Paul Goldsmith-Pinkham for sharing asset-backed security data. This research was conducted while Gee was an employee at the U.S. Department of the Treasury. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors and do not necessarily reflect the views or the official positions of the U.S. Department of the Treasury or the Federal Reserve Board. Any taxpayer data used in this research was kept in a secured IRS data repository, and all results have been reviewed to ensure that no confidential information is disclosed. The data from confidential individual tax returns and from Experian and cannot be shared with those without proper clearance. Zwick gratefully acknowledges financial support from the Peter G. Peterson Foundation, the Booth School of Business at the University of Chicago, and the Fama Miller Center at Booth. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.