Replication data for: Workers' Spending Response to the 2011 Payroll Tax Cuts
Principal Investigator(s): View help for Principal Investigator(s) Grant Graziani; Wilbert van der Klaauw; Basit Zafar
Version: View help for Version V1
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| AEJ-P-Final-Code | 10/13/2019 03:22:AM | ||
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text/plain | 14.6 KB | 10/12/2019 11:23:PM |
Project Citation:
Graziani, Grant, van der Klaauw, Wilbert, and Zafar, Basit. Replication data for: Workers’ Spending Response to the 2011 Payroll Tax Cuts. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114604V1
Project Description
Summary:
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This paper investigates workers' spending response to the 2011 payroll tax cuts. Respondents were surveyed at the beginning and end of 2011, which allows the comparison of ex ante and ex post reported use of the extra income. While workers on average intended to spend 14 percent of their tax cut income, they ex post reported spending 36 percent of the funds. This pattern of higher spending ex post is shared across all demographic groups. Differences across workers in this shift to greater ex post spending are largely unexplained by differences in either present bias or unanticipated shocks, so in the end the upward revision in spending remains a puzzle.
Scope of Project
JEL Classification:
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D12 Consumer Economics: Empirical Analysis
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
E21 Macroeconomics: Consumption; Saving; Wealth
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
H31 Fiscal Policies and Behavior of Economic Agents: Household
D12 Consumer Economics: Empirical Analysis
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
E21 Macroeconomics: Consumption; Saving; Wealth
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
H31 Fiscal Policies and Behavior of Economic Agents: Household
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