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Spending effects of child-related fiscal transfers
Goldfayn-Frank, Olga; Lewis, Vivien; Wehrhöfer, Nils - 2022
As part of Germany’s fiscal response to the Covid-19 pandemic, parents received three payments totalling e450 per child. Randomization in the payment dates and daily scanner data allow us to identify the effects of these transfers on household spending. We find a significant but small spending...
Persistent link: https://www.econbiz.de/10013268076
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High-frequency spending responses to government transfer payments
Cooper, Daniel; Olivei, Giovanni P. - 2021 - This version: November 2021
This paper evaluates the marginal propensity to consume (MPC) out of the 2020 fiscal stimulus payments using high-frequency, transaction-level data for a sample of low-income cardholders, many of whom are unbanked. Consumers' MPC out of non-stimulus income and their MPC out of tax refunds are...
Persistent link: https://www.econbiz.de/10012705045
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Using a temporary indirect tax cut as a fiscal stimulus : evidence from the UK
Crossley, Thomas F.; Low, Hamish; Sleeman, Cath - 2014
This paper evaluates a novel form of fiscal stimulus: a temporary cut in the rate of Value Added Tax (VAT). In December 2008, the UK cut the standard rate of VAT by 2.5 percentage points for 13 months in an effort to stimulate spending. We estimate the effect of the cut on prices and spending...
Persistent link: https://www.econbiz.de/10010381367
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Fiscal stimulus and the extensive margin : conference paper
Lewis, Vivien; Winkler, Roland - 2013
Using VAR analysis on US data, we show that unanticipated fiscal expansions boost private consumption and business … crowding-in of both consumption and entry can be generated only under very specific assumptions. In a static model with full … such that future profits are high enough to generate entry. However, consumption falls for conventional parameter values …
Persistent link: https://www.econbiz.de/10010339394
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Spending Effects of Child-Related Fiscal Transfers
Goldfayn-Frank, Olga; Lewis, Vivien; Wehrhöfer, Nils - 2022
As part of Germany's fiscal response to the Covid-19 pandemic, parents received three payments totalling e450 per child. Randomization in the payment dates and daily scanner data allow us to identify the effects of these transfers on household spending. We find a significant but small spending...
Persistent link: https://www.econbiz.de/10014030082
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The Household E ffects of Government Spending
Giavazzi, Francesco - 2012
working relatively few (weekly) hours, for instance, suffer from a spending shock of the type we analyzed: their consumption …
Persistent link: https://www.econbiz.de/10013111310
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A Greater Multiplier with a Targeted Tax and Spend Strategy
Long, Michael S. - 2019
Traditional macroeconomics finds a multiplier of 1.0 when taxes and expenditures are increased by the same amount. It results from uniform tax increases and a constant marginal propensity to consume. We show that a greater multiplier results when the tax rate increases on those with a lower...
Persistent link: https://www.econbiz.de/10012901980
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MPCs in an economic crisis : spending, saving and private transfers
Crossley, Thomas F.; Fisher, Paul; Levell, Peter; Low, … - In: Journal of public economics plus 2 (2021), pp. 1-13
MPCs were directly elicited from a representative sample of UK adults in July 2020 using receipt of a hypothetical unanticipated, one-time income payment. Reported MPCs are modest, around 11% on average. They are higher, but still modest, for individuals in households with high current needs....
Persistent link: https://www.econbiz.de/10012800437
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MPCs in an economic crisis : spending, saving and private transfers
Crossley, Thomas F.; Fisher, Paul; Levell, Peter; Low, … - 2021
MPCs were directly elicited from a representative sample of UK adults in July 2020 using receipt of a hypothetical unanticipated, one-time income payment. Reported MPCs are modest, around 11% on average. They are higher, but still modest, for individuals in households with high current needs....
Persistent link: https://www.econbiz.de/10012612848
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Spend Today or Spend Tomorrow? The Role of Inflation Expectations in Consumer Behaviour
Rondinelli, Concetta - 2020
This paper investigates whether Italian households' actual expenditure and willingness to buy durables (cars) are related to their inflation expectations. In a high-inflation regime, as in the early 1990s, consumers with higher inflation expectations tend to have higher current than future...
Persistent link: https://www.econbiz.de/10012832729