New research indicates that ongoing payments, such as unemployment insurance or universal income, may have more of the desired stimulus effect.
How are people spending their stimulus checks? An ongoing study from the Kellogg School of Management at Northwestern University finds that one factor predicts how people spend their stimulus checks: their bank account balance. Those with under $500 in their bank accounts spend nearly half of their stimulus check within 10 days, while those with more than $3,000 in their bank accounts do nothing. (Well, one assumes they smile, at least briefly?)
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