支出对支付时间高频变化的反应:来自劳动所得税抵免的证据

IF 5.6 1区经济学 Q1 ECONOMICS

American Economic Journal-Economic Policy Pub Date : 2023-08-01 DOI:10.1257/pol.20200590

Aditya Aladangady, S. Aron-Dine, David B. Cashin, W. Dunn, Laura Feiveson, Paul A. Lengermann, Katherine Richard, Claudia R. Sahm

{"title":"支出对支付时间高频变化的反应:来自劳动所得税抵免的证据","authors":"Aditya Aladangady, S. Aron-Dine, David B. Cashin, W. Dunn, Laura Feiveson, Paul A. Lengermann, Katherine Richard, Claudia R. Sahm","doi":"10.1257/pol.20200590","DOIUrl":null,"url":null,"abstract":"This study explores the spending response to tax refunds for Earned Income Tax Credit recipients using a novel dataset combining transaction-based measures of retail spending with administrative IRS data on tax refunds. Our dataset allows us to exploit variation in the timing of EITC refunds, including changes related to the 2017 PATH Act, along with cross-state differences in refund magnitudes to identify spending responses. Results show EITC recipients spend about $0.30 per refund dollar ($1,150 for the average refund) within just two weeks of issuance, suggesting stimulus targeted at this population may provide a quick boost to aggregate demand. (JEL D12, E32, G51, H24, I38, K34)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"38 1","pages":""},"PeriodicalIF":5.6000,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":"{\"title\":\"Spending Responses to High-Frequency Shifts in Payment Timing: Evidence from the Earned Income Tax Credit\",\"authors\":\"Aditya Aladangady, S. Aron-Dine, David B. Cashin, W. Dunn, Laura Feiveson, Paul A. Lengermann, Katherine Richard, Claudia R. Sahm\",\"doi\":\"10.1257/pol.20200590\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This study explores the spending response to tax refunds for Earned Income Tax Credit recipients using a novel dataset combining transaction-based measures of retail spending with administrative IRS data on tax refunds. Our dataset allows us to exploit variation in the timing of EITC refunds, including changes related to the 2017 PATH Act, along with cross-state differences in refund magnitudes to identify spending responses. Results show EITC recipients spend about $0.30 per refund dollar ($1,150 for the average refund) within just two weeks of issuance, suggesting stimulus targeted at this population may provide a quick boost to aggregate demand. (JEL D12, E32, G51, H24, I38, K34)\",\"PeriodicalId\":48093,\"journal\":{\"name\":\"American Economic Journal-Economic Policy\",\"volume\":\"38 1\",\"pages\":\"\"},\"PeriodicalIF\":5.6000,\"publicationDate\":\"2023-08-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"3\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"American Economic Journal-Economic Policy\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1257/pol.20200590\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"American Economic Journal-Economic Policy","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1257/pol.20200590","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}

引用次数: 3

摘要

本研究利用一个新颖的数据集，将基于交易的零售支出指标与美国国税局有关退税的行政数据相结合，探讨了劳动所得税抵免接受者对退税的支出反应。我们的数据集允许我们利用EITC退税时间的变化，包括与2017年PATH法案相关的变化，以及退税幅度的跨州差异，以确定支出反应。结果显示，EITC受益人在发放后的两周内，每一美元退税支出约为0.30美元(平均每一美元退税支出为1,150美元)，这表明针对这一人群的刺激措施可能会迅速提振总需求。(凝胶d12, e32, g51, h24, i38, k34)

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Spending Responses to High-Frequency Shifts in Payment Timing: Evidence from the Earned Income Tax Credit

This study explores the spending response to tax refunds for Earned Income Tax Credit recipients using a novel dataset combining transaction-based measures of retail spending with administrative IRS data on tax refunds. Our dataset allows us to exploit variation in the timing of EITC refunds, including changes related to the 2017 PATH Act, along with cross-state differences in refund magnitudes to identify spending responses. Results show EITC recipients spend about $0.30 per refund dollar ($1,150 for the average refund) within just two weeks of issuance, suggesting stimulus targeted at this population may provide a quick boost to aggregate demand. (JEL D12, E32, G51, H24, I38, K34)

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

American Economic Journal-Economic Policy ECONOMICS-

CiteScore

8.20

自引率

1.90%

发文量

期刊介绍： The American Economic Review (AER) is a general-interest economics journal. The journal publishes 12 issues containing articles on a broad range of topics. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in economics. American Economic Journal: Economic Policy publishes papers covering a range of topics, the common theme being the role of economic policy in economic outcomes. Subject areas include public economics; urban and regional economics; public policy aspects of health, education, welfare and political institutions; law and economics; economic regulation; and environmental and natural resource economics.