论文标题
对异质剂进行刺激检查的最佳分配
Optimal allocations to heterogeneous agents with an application to stimulus checks
论文作者
论文摘要
计划者将尺寸$ d_g $的离散转移分配给$ n $异质组，标有$ g $，并且具有与结果结果相比，$ h_g（d_g）$。在假设$ h_g $函数中的增量是不添加的，我们得出了一种封闭形式的解决方案，以最佳地分配固定预算。我们通过研究大萧条和199年大流行期间从美国政府向家庭的“支持检查”的分配来说明我们的方法。我们将实际分配与在替代限制下的最佳分配进行了比较，假设政府专注于刺激2008 - 2009年危机期间的总消费，并将重点放在2020--2021危机期间。该分析的输入是从具有异质家庭的生命周期模型的版本中获得的，该模型可以预测家庭型的特定于家庭型消费以及对纳税折扣和现金转移的福利响应。
A planner allocates discrete transfers of size $D_g$ to $N$ heterogeneous groups labeled $g$ and has CES preferences over the resulting outcomes, $H_g(D_g)$. We derive a closed-form solution for optimally allocating a fixed budget subject to group-specific inequality constraints under the assumption that increments in the $H_g$ functions are non-increasing. We illustrate our method by studying allocations of "support checks" from the U.S. government to households during both the Great Recession and the COVID-19 pandemic. We compare the actual allocations to optimal ones under alternative constraints, assuming the government focused on stimulating aggregate consumption during the 2008--2009 crisis and focused on welfare during the 2020--2021 crisis. The inputs for this analysis are obtained from versions of a life-cycle model with heterogeneous households, which predicts household-type-specific consumption and welfare responses to tax rebates and cash transfers.
