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We study how household concerns about their future financial situation may affect the marginal propensity to consume (MPC) during the COVID-19 pandemic. We use a representative survey of UK households to compute the MPC from a hypothetical transfer of £500. We find that household expectations play a key role in determining differences in MPCs across households: households concerned about not being able to make ends meet have a 20% higher MPC than other households. Our findings suggest that policies targeted to vulnerable and financially distressed households may prove more effective in stimulating demand than providing stimulus payments to all households.

Contributions consacrées à cet abrégé de droit romain publié en 506 à Aire-sur-l'Adour rassemblant des lois romaines qui furent utilisées pendant le Moyen Âge, au point d'être la base du Code civil de 1804. Il apporte à la civilisation européenne l'héritage de Rome : la notion d'État, la distinction entre droit public et privé, les statuts sociaux, la régulation des transactions commerciales, etc.--[Memento].