| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27596 |
| 来源ID | Working Paper 27596 |
| \"Quick Response\" Economic Stimulus: The Effect of Small-Value Digital Coupons on Spending | |
| Jianwei Xing; Eric Zou; Zhentao Yin; Yong Wang; Zhenhua Li | |
| 发表日期 | 2020-07-27 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We study a new consumption stimulus model that leverages mobile payment platforms to dispense massive amounts of small-value, use-it-this-week-or-lose-it digital coupons. We evaluate the effects of one such program in a large Chinese city using novel data of mobile platform transactions of 1 million program participants. Exploiting participants’ rush to the first-come, first-served digital portal, we compare spending among those who won coupons to those who lost because of minor differences in the timing of their arrival at the portal. We find that coupons generate an immediate increase in weekly consumption among winners by $3 additional out-of-pocket spending for every $1 in government subsidy. Coupon-winning consumers practice intertemporal substitution by moving up purchases that would have been made months in the future. Analysis of business customer flows suggests that coupons distort consumption toward more expensive options, leading the program to disproportionately favor big firms that sell pricier goods and services. Relaxing coupons’ minimum spending requirements would alleviate such distributional concern without sacrificing consumer welfare. We conclude that the coupon model can be a useful addition to policy makers’ stimulus toolbox. |
| 主题 | Microeconomics ; Households and Firms ; Macroeconomics ; Money and Interest Rates ; Public Economics ; Taxation ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w27596 |
| 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/585267 |
| 推荐引用方式 GB/T 7714 | Jianwei Xing,Eric Zou,Zhentao Yin,et al. \"Quick Response\" Economic Stimulus: The Effect of Small-Value Digital Coupons on Spending. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27596.pdf（1263KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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