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Income or Wealth: What Did the 2020 Stimulus Mean for People’s Happiness and Why It Matters?

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  • Michael Madowitz
  • Christian E. Weller

Abstract

The consensus view is that the economy benefits most when Americans spend their stimulus checks on goods and services. But what if they saved the money, as many did? These authors argue that the benefits to mental health due to a financial cushion can also lead to a stronger economy. Mental health is, arguably, a new Keynesian variable

Suggested Citation

  • Michael Madowitz & Christian E. Weller, 2021. "Income or Wealth: What Did the 2020 Stimulus Mean for People’s Happiness and Why It Matters?," Challenge, Taylor & Francis Journals, vol. 64(3), pages 229-242, May.
    • Handle: RePEc:mes:challe:v:64:y:2021:i:3:p:229-242
    DOI: 10.1080/05775132.2021.1932138
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