Arbeitspapier
A boost in the paycheck: Survey evidence on workers' response to the 2011 payroll tax cuts
This paper presents new survey evidence on workers' response to the 2011 payroll tax cuts. While workers intended to spend 10 to 18 percent of their tax-cut income, they reported actually spending 28 to 43 percent of the funds. This is higher than estimates from studies of recent tax cuts, and arguably a consequence of the design of the 2011 tax cuts. The shift to greater consumption than intended is largely unexplained by presentbias or unanticipated shocks, and is likely a consequence of mental accounting. We also use data from a complementary survey to understand the heterogeneous tax-cut response.
- Sprache
-
Englisch
- Erschienen in
-
Series: Staff Report ; No. 592
- Klassifikation
-
Wirtschaft
Survey Methods; Sampling Methods
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Macroeconomics: Consumption; Saving; Wealth
Fiscal Policy
Studies of Particular Policy Episodes
- Thema
-
tax cuts
consumption
liquidity constraints
mental accounts
permanentincome hypothesis
present-bias
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Graziani, Grant
van der Klaauw, Wilbert
Zafar, Basit
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of New York
- (wo)
-
New York, NY
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Graziani, Grant
- van der Klaauw, Wilbert
- Zafar, Basit
- Federal Reserve Bank of New York
Entstanden
- 2013
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