000			01190nam a22001457a 4500
999			_c516231 _d516231
008			210220b ||||| |||| 00| 0 eng d
100			_aGreen, D. et al _924266
245			_aAccelerator or brake: Cash for clunkers, household liquidity, and aggregate demand
260			_aAmerican Economic Journal: Economic Policy
300			_a12(4), Nov, 2020: p.178-211
520			_aThis paper evaluates the Car Allowance Rebate System (CARS) by comparing the vehicle purchases and disposals of households with eligible "clunkers" to those of households with similar but ineligible vehicles. CARS caused roughly 500,000 purchases during the program period. The provision of liquidity, through a rebate usable as a down payment, was critical in generating this large response. Participation was rare among households that owned clunkers with outstanding loans, which required loan repayment. This decline in participation is attributed to households' preference for lower down payments and distinguished from the effects of income, other indebtedness, and the program subsidy. – Reproduced
773			_aAmerican Economic Journal: Economic Policy
906			_aHOUSEHOLD FINANCE
942			_cAR