全球智库信息集成服务系统(G2TT): Balance-Sheet Households and Fiscal Stimulus: Lessons from the Payroll Tax Cut and Its Expiration

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w21220
来源ID	Working Paper 21220
	Balance-Sheet Households and Fiscal Stimulus: Lessons from the Payroll Tax Cut and Its Expiration
	Claudia R. Sahm; Matthew D. Shapiro; Joel Slemrod
发表日期	2015-06-01
出版年	2015
语种	英语
摘要	Balance-sheet repair drove the response of a significant fraction of households to fiscal stimulus following the Great Recession. By combining survey, behavioral, and time-series evidence on the 2011 payroll tax cut and its expiration in 2013, this papers identifies and analyzes households who smooth debt repayment. These “balance-sheet households” are as prevalent as “permanent-income households,” who smooth consumption in response to the temporary tax cut, and outnumber “constrained households,” who temporarily boost spending. The asymmetric spending response of balance-sheet households poses challenges to standard models, but nonetheless appears important for understanding individual and aggregate responses to fiscal stimulus.
主题	Econometrics ; Data Collection ; Macroeconomics ; Consumption and Investment ; Fiscal Policy ; Public Economics ; Taxation
URL	https://www.nber.org/papers/w21220
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/578895
推荐引用方式 GB/T 7714	Claudia R. Sahm,Matthew D. Shapiro,Joel Slemrod. Balance-Sheet Households and Fiscal Stimulus: Lessons from the Payroll Tax Cut and Its Expiration. 2015.