all around the world distribute stimulus payments during economic downturns to increase consumption. In the United States, for example, the government distributed billions of dollars of stimulus payments to households in each of the last three recessions, and each time households used the payments to immediately consumption (Johnson et al. 2006; Shapiro and Slemrod 2009; Parker et al. 2022). Many governments also design fiscal stimulus policies to target particular sectors of the economy. For
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