---
title: Fiscal Spillovers through Informal Financial Channels
url: https://www.ml-quant.com/papers/doi/10-1016-j-jimonfin-2025-103378/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: doi:10.1016/j.jimonfin.2025.103378
source_url: http://dx.doi.org/10.1016/j.jimonfin.2025.103378
featured: 2025-08-12
citations: 0
topic: Macro-Finance & Rates
---


# Fiscal Spillovers through Informal Financial Channels

A paper using detailed cryptocurrency data finds a temporary rise in cryptocurrency outflows from the US after stimulus checks, with a maximum fiscal spillover of 2.52%.

- Source: http://dx.doi.org/10.1016/j.jimonfin.2025.103378
- Identifier: doi:10.1016/j.jimonfin.2025.103378
- Released: 2025-08-08
- First featured: Quant Letter No. 109 (2025-08-12): https://www.ml-quant.com/issues/2025-08-12/
- Citations (Semantic Scholar): 0
- Published in: Journal of International Money and Finance
- Topic: Macro-Finance & Rates

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