Consumer Response to Tax Rebates

  • 研討會日期 : 2002-05-07
  • 時間 : 14:00
  • 主講人 : Prof. Matthew D. Shapiro
  • 地點 : B棟110室
  • 演講者簡介 : Prof. Matthew D. Shapiro為Ph.D. Massachusetts Institute of Technology (1984)。 目前為Professor of Economics,University of Michigan; Senior Research Scientist,Survey Research Center,University of Michigan;Research Associate,National Bureau of Economic Research。 其主要研究領域為Macroeconomics,研究主題涵蓋Investment and Capital Utilization、Business-Cycle Fluctuations、Consumption and Saving、Financial Markets、Monetary Policy、及Time-Series Econometrics。
  • 演講摘要 : Many households received income tax rebates in 2001 of $300 or $600. These rebates represented advance payments of the tax cut from the new 10 percent tax bracket. Based on a survey of a representative sample of households, this paper finds that only 22 percent of households receiving the rebate would spent it. Instead, they would either save it or use it to pay off debt. This very low rate of spending represents a striking break with past behavior, which would have suggested a much higher rate of spending. The low spending rate implies that the tax rebate provided a very limited stimulus to aggregate demand.