Asymmetric responses to income changes: The payroll tax increase versus tax refund in 2013

We examine low-to-middle income individuals’ responses to the 2013 payroll tax increase and their 2012 tax refund and find that consumption declines 90 cents per dollar lost to the tax increase, and rises 60 cents per additional tax refund dollar.

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Year of publication:	2014
Authors:	Bracha, Anat ; Cooper, Daniel
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 124.2014, 3, p. 534-538
Publisher:	Elsevier
Subject:	Payroll tax changes \| Consumption \| Tax refunds \| Saving

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Type of publication:	Article
Classification:	E21 - Consumption; Saving ; H24 - Personal Income and Other Nonbusiness Taxes and Subsidies ; H31 - Household
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011041737