Guilty of not providing any stimulus. At all. The plan only affected the timing of automobile purchases, according to a new
National Bureau of Economic Research working paper from Atif Mian (Cal-Berkeley) and Amir Sufi (Chicago-Booth). The two economists took advantage of the fact that the supply of clunkers varied by city and found that auto sales during the plan were much higher in high-clunker cities than in otherwise similar low-clunker cities. But once the plan was over, the pattern was reversed. Exactly.
And the home buyer stimulus looks like it's going to be a dud also.
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