{"note":{"questionId":"6e2dc034-b01d-4b1d-945f-4d52a3b74c62","excludeFromTrivia":false,"createdDate":"2020-10-08T20:18:36.901+0000","lastUpdated":"2020-10-09T14:15:11.055+0000","questionTitle":"BFI working paper: Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments","multipleSelectionAmount":0,"noteType":"SINGLE","noteOptions":[{"optionId":"4e9ef726-94dd-46c3-860f-d0c8573b8e04","hasComment":false,"element":{"type":"HTML_TEXT","src":"<p>A working paper published last month by the Becker Friedman Institute for Economics at the University of Chicago, used data from the financial nonprofit SaverLife. The people they studied were largely lower- and middle-income, with a median annual after-tax income of $25,000. The research found wide variation in how people reacted to having the extra money. Those with less than $100 in their bank accounts spent over 40 percent of their checks within the first month, while people with more than $4,000 in their accounts spent a statistically insignificant 11 percent.<br/><br/><a href=\"https://www.washingtonpost.com/business/2020/10/09/covid-second-stimulus-checks/\" target=\"\">Read the full story here.</a><br/><br/><br/></p>","id":"d6d7bc01-76a4-459b-a1c6-bf1c81efeaad"}},{"optionId":"87813f9d-a1b0-463d-b7ee-2ba6c3383e4c","hasComment":false,"element":{"type":"PDF","src":"\n <div class=\"context-pdf-box\" src=\"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.\" >\n <p>\n <span class=\"context-pdf-fallback\"><a href=\"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.\">Click here to download</a> if the document isn't visible or legible.</span>\n </p>\n </div>\n \n <link href=\"https://context-cdn.washingtonpost.com/shared/notes/prod/embed-pdf.css\" rel=\"stylesheet\">\n <script src=\"https://context-cdn.washingtonpost.com/shared/notes/prod/embed-pdf.js\"></script>\n ","uploadFileId":"142a44bc-b550-4ea7-b0cd-58d57341b18e","uploadFileUrl":"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.","id":"819c77fe-e7c6-4968-98b8-d44af23fb0aa","original":"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.","paginated":false}}],"standaloneURL":"https://www.washingtonpost.com/context/bfi-working-paper-income-liquidity-and-the-consumption-response-to-the-2020-economic-stimulus-payments/6e2dc034-b01d-4b1d-945f-4d52a3b74c62/","publishStatus":"PUBLISHED","keywords":"stimulus checks, Becker Friedman Institute for Economics at the University of Chicago,","description":"A working paper published last month by the Becker Friedman Institute for Economics at the University of Chicago, used data from the financial nonprofit SaverLife.","redirectUrl":""},"game":{"gameId":"534baa1b-8927-479b-b76d-ed4b7b674c01","sectionId":"Business","title":"Second round Stimulus Checks","createdTimestamp":"2020-10-08T20:02:18.377+0000","lastUpdatedTimestamp":"2020-10-09T14:15:11.102+0000","archive":false,"allowMoreThanOnce":false,"createdBy":"kulkarnis","lastUpdatedBy":"kulkarnis","adminEmailId":"kulkarnis@washpost.com","live":false,"photoUploaded":false,"captchaProtected":false,"questions":[{"questionId":"6e2dc034-b01d-4b1d-945f-4d52a3b74c62","excludeFromTrivia":false,"createdDate":"2020-10-08T20:18:36.901+0000","lastUpdated":"2020-10-09T14:15:11.055+0000","questionTitle":"BFI working paper: Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments","multipleSelectionAmount":0,"noteType":"SINGLE","noteOptions":[{"optionId":"4e9ef726-94dd-46c3-860f-d0c8573b8e04","hasComment":false,"element":{"type":"HTML_TEXT","src":"<p>A working paper published last month by the Becker Friedman Institute for Economics at the University of Chicago, used data from the financial nonprofit SaverLife. The people they studied were largely lower- and middle-income, with a median annual after-tax income of $25,000. The research found wide variation in how people reacted to having the extra money. Those with less than $100 in their bank accounts spent over 40 percent of their checks within the first month, while people with more than $4,000 in their accounts spent a statistically insignificant 11 percent.<br/><br/><a href=\"https://www.washingtonpost.com/business/2020/10/09/covid-second-stimulus-checks/\" target=\"\">Read the full story here.</a><br/><br/><br/></p>","id":"d6d7bc01-76a4-459b-a1c6-bf1c81efeaad"}},{"optionId":"87813f9d-a1b0-463d-b7ee-2ba6c3383e4c","hasComment":false,"element":{"type":"PDF","src":"\n <div class=\"context-pdf-box\" src=\"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.\" >\n <p>\n <span class=\"context-pdf-fallback\"><a href=\"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.\">Click here to download</a> if the document isn't visible or legible.</span>\n </p>\n </div>\n \n <link href=\"https://context-cdn.washingtonpost.com/shared/notes/prod/embed-pdf.css\" rel=\"stylesheet\">\n <script src=\"https://context-cdn.washingtonpost.com/shared/notes/prod/embed-pdf.js\"></script>\n ","uploadFileId":"142a44bc-b550-4ea7-b0cd-58d57341b18e","uploadFileUrl":"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.","id":"819c77fe-e7c6-4968-98b8-d44af23fb0aa","original":"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.","paginated":false}}],"standaloneURL":"https://www.washingtonpost.com/context/bfi-working-paper-income-liquidity-and-the-consumption-response-to-the-2020-economic-stimulus-payments/6e2dc034-b01d-4b1d-945f-4d52a3b74c62/","publishStatus":"PUBLISHED","keywords":"stimulus checks, Becker Friedman Institute for Economics at the University of Chicago,","description":"A working paper published last month by the Becker Friedman Institute for Economics at the University of Chicago, used data from the financial nonprofit SaverLife.","redirectUrl":""}],"allowDuplicate":false,"status":"ACTIVE"},"apiRoot":"https://notes.washingtonpost.com/api/webapi","embed":"\n<div class=\"context-note\" id=\"note_6e2dc034-b01d-4b1d-945f-4d52a3b74c62\">\n <link href=\"https://context-cdn.washingtonpost.com/shared/notes/notes.css\" rel=\"stylesheet\">\n <div class=\"context-header\">\n <div class=\"note-headline\">\n <h1 class=\"note-title\">BFI working paper: Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments</h1>\n <p class=\"note-timestamp\">Updated Oct 9, 2020 at 10:15 AM EST</p>\n </div>\n </div>\n <div class=\"context-body\">\n <div class=\"notes-inner-content context-block\">\n <p>A working paper published last month by the Becker Friedman Institute for Economics at the University of Chicago, used data from the financial nonprofit SaverLife. The people they studied were largely lower- and middle-income, with a median annual after-tax income of $25,000. The research found wide variation in how people reacted to having the extra money. Those with less than $100 in their bank accounts spent over 40 percent of their checks within the first month, while people with more than $4,000 in their accounts spent a statistically insignificant 11 percent.<br/><br/><a href=\"https://www.washingtonpost.com/business/2020/10/09/covid-second-stimulus-checks/\" target=\"\">Read the full story here.</a><br/><br/><br/></p>\n \n <div class=\"context-pdf-box\" src=\"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.\" >\n <p>\n <span class=\"context-pdf-fallback\"><a href=\"https://context-cdn.washingtonpost.com/notes/prod/default/documents/534baa1b-8927-479b-b76d-ed4b7b674c01/note/142a44bc-b550-4ea7-b0cd-58d57341b18e.\">Click here to download</a> if the document isn't visible or legible.</span>\n </p>\n </div>\n \n <link href=\"https://context-cdn.washingtonpost.com/shared/notes/prod/embed-pdf.css\" rel=\"stylesheet\">\n <script src=\"https://context-cdn.washingtonpost.com/shared/notes/prod/embed-pdf.js\"></script>\n \n <div class=\"wrap-collapsible\">\n <input id=\"collapsible\" class=\"toggle\" type=\"checkbox\">\n <label for=\"collapsible\" class=\"lbl-toggle\">Summary</label>\n <div class=\"collapsible-content\">\n <div class=\"content-inner\">\n <p>\n A working paper published last month by the Becker Friedman Institute for Economics at the University of Chicago, used data from the financial nonprofit SaverLife.\n </p>\n </div>\n </div>\n </div>\n </div>\n </div>\n</div>\n\n\n<script async>\n /* Replace the EST timestamp with the browsers locale */\n var node = document.querySelector(\"#note_6e2dc034-b01d-4b1d-945f-4d52a3b74c62 .note-timestamp\");\n var timestamp = new Date(\"2020-10-09T14:15:11Z\");\n var date = timestamp.toLocaleDateString('en-us', { year: 'numeric', month: 'short', day: 'numeric' });\n var time = timestamp.toLocaleTimeString(\"en-us\", { hour: 'numeric', minute: 'numeric'});\n node.innerText = \"Updated \" + date + \" at \" + time;\n</script>\n"}