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161
Indebted Households and Tax Rebates *
"... Governments issue individual tax rebates hoping that recipients spend the money. A high consumption rate from a tax rebate is essential for such a fiscal stimulus to be effective: according to Keynes ’ 1936 general theory, tax transfers multiply into the economy at a rate of the inverse of one minus ..."
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Governments issue individual tax rebates hoping that recipients spend the money. A high consumption rate from a tax rebate is essential for such a fiscal stimulus to be effective: according to Keynes ’ 1936 general theory, tax transfers multiply into the economy at a rate of the inverse of one
Household Expenditure and the Income Tax Rebates of 2001
, 2004
"... Under the Economic Growth and Tax Relief Reconciliation Act of 2001, most U.S. taxpayers received a tax rebate between July and September, 2001. The week in which the rebate was mailed was based on the second-to-last digit of the taxpayer's Social Security number, a digit that is effectively ra ..."
Abstract
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Cited by 195 (15 self)
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Under the Economic Growth and Tax Relief Reconciliation Act of 2001, most U.S. taxpayers received a tax rebate between July and September, 2001. The week in which the rebate was mailed was based on the second-to-last digit of the taxpayer's Social Security number, a digit that is effectively
A Tax Rebate in A Recession: Is It Safe and Effective?
"... Is a tax rebate safe and effective? Simulations with an empirically-tested macro-econometric model are used to estimate the impact of the actual 2001 tax rebate in the U.S. and of a rebate twice as large repeated in three additional quarters, and the results of the simulations are interpreted in li ..."
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Is a tax rebate safe and effective? Simulations with an empirically-tested macro-econometric model are used to estimate the impact of the actual 2001 tax rebate in the U.S. and of a rebate twice as large repeated in three additional quarters, and the results of the simulations are interpreted
What do high-interest borrowers do with their tax rebate
- American Economic Review Papers and Proceedings
, 2009
"... A set of influential papers1 find substantial consumption out of tax rebates, with evidence pointing to an important role for liquidity constraints. Sumit Agarwal, Chunlin Liu and Souleles (2007) directly test the importance of liquidity constraints among credit card borrowers receiving rebates; the ..."
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Cited by 20 (3 self)
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A set of influential papers1 find substantial consumption out of tax rebates, with evidence pointing to an important role for liquidity constraints. Sumit Agarwal, Chunlin Liu and Souleles (2007) directly test the importance of liquidity constraints among credit card borrowers receiving rebates
WHAT DO HIGH-INTEREST BORROWERS DO WITH THEIR TAX REBATE?
, 2009
"... Building on prior literature that constrained individuals consume the most out of a tax rebate, we study the tradeoffs high interest borrowers face when they received their 2008 tax stimulus checks. We find a persistent decline in payday borrowing in the pay cycles that follow the receipt of the tax ..."
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Building on prior literature that constrained individuals consume the most out of a tax rebate, we study the tradeoffs high interest borrowers face when they received their 2008 tax stimulus checks. We find a persistent decline in payday borrowing in the pay cycles that follow the receipt
DID THE 2001 TAX REBATE STIMULATE SPENDING? EVIDENCE FROM TAXPAYER SURVEYS
, 2002
"... Many households received rebate checks in 2001 as advanced payments of the benefit of the new 10 percent federal income tax bracket. A survey conducted at the time the rebates were mailed finds that few households said that the rebate led them mostly to increase spending. A follow-up survey in 2002 ..."
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Many households received rebate checks in 2001 as advanced payments of the benefit of the new 10 percent federal income tax bracket. A survey conducted at the time the rebates were mailed finds that few households said that the rebate led them mostly to increase spending. A follow-up survey in 2002
Liquidity Constraints and Consumer Bankruptcy: Evidence from Tax Rebates ∗
, 2012
"... This paper estimates the extent to which legal fees prevent liquidity-constrained households from declaring bankruptcy. To do so, it studies how the 2001 and 2008 income tax rebates affected consumer bankruptcy filings. We exploit the randomized timing of the rebate checks and estimate that the reba ..."
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Cited by 11 (1 self)
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This paper estimates the extent to which legal fees prevent liquidity-constrained households from declaring bankruptcy. To do so, it studies how the 2001 and 2008 income tax rebates affected consumer bankruptcy filings. We exploit the randomized timing of the rebate checks and estimate
The Reaction of Consumer Spending and Debt to Tax Rebates—Evidence from Consumer Credit Data
- Journal of Political Economy
, 2007
"... We use a new panel data set of credit card accounts to analyze how consumers responded to the 2001 federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on average, ..."
Abstract
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Cited by 78 (13 self)
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We use a new panel data set of credit card accounts to analyze how consumers responded to the 2001 federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on average
Did the 2001 Tax Rebate Stimulate Spending? Evidence from Taxpayer Surveys
- in James Poterba (editor), Tax Policy and the Economy 17
, 2003
"... supported data collection for this project. ..."
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