| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11735 |
| DP11735 Consumer spending and fiscal consolidation: evidence from a housing tax experiment | |
| Paolo Surico; Riccardo Trezzi | |
| 发表日期 | 2016-12-31 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | The introduction of a temporary housing tax as prominent part of the 2011 fiscal consolidation plan generated a sizable quasi-experiment across Italian municipalities and households, which we exploit to study the effects of this policy on consumer spending. The tax hike on the main dwelling led to large expenditure cuts (especially on vehicle purchases) among mortgagors, who hold low liquid wealth relative to income despite owning sizable illiquid assets. In contrast, higher tax rates on other residential properties mostly affected affluent home-owners, thereby having only a negligible impact on consumer spending. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Fiscal consolidation Tax hike Housing taxes Marginal propensity to consume Mortgage debt |
| URL | https://cepr.org/publications/dp11735 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540549 |
| 推荐引用方式 GB/T 7714 | Paolo Surico,Riccardo Trezzi. DP11735 Consumer spending and fiscal consolidation: evidence from a housing tax experiment. 2016. |
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