Souleles, Nicholas S.; Parker, Jonathan A.; Johnson, … - In: American Economic Review 96 (2006) 5, pp. 1589-1610
Using questions expressly added to the Consumer Expenditure Survey, we estimate the change in consumption expenditures caused by the 2001 federal income tax rebates and test the permanent income hypothesis. We exploit the unique, randomized timing of rebate receipt across households. Households...