In 2008, consumers were mailed a stimulus check in response to the recession. The result showed that Ricardian equivalence:

Question

Quizplus · Accepted Answer

The stimulus check was intended to increase consumer spending and boost the economy, but studies showed that most people used the money to pay off debts or put it into savings, rather than spending it on goods and services. This suggests that Ricardian equivalence failed to hold, as consumers did not view the stimulus money as a permanent increase in their income and did not adjust their spending accordingly.

In 2008, Consumers Were Mailed a Stimulus Check in Response