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Did the 2001 Tax Rebate Stimulate Spending? Evidence from Taxpayer Surveys

  • Matthew D. Shapiro
  • Joel Slemrod

In 2001, many households received rebate checks as advanced payments of the benefit of the new, 10 percent federal income tax bracket. A survey conducted at the time the rebates were mailed finds that few households said that the rebate led them mostly to increase spending. A follow-up survey in 2002, as well as a similar survey conducted after the attacks of 9/11, also indicates low spending rates. This paper investigates the robustness of these survey responses and assesses whether such surveys are useful for policy evaluation. It also draws lessons from the surveys for macroeconomic analysis of the tax rebate.

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File URL: http://www.nber.org/papers/w9308.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 9308.

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Date of creation: Nov 2002
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Publication status: published as Did the 2001 Tax Rebate Stimulate Spending? Evidence from Taxpayer Surveys , Matthew D. Shapiro, Joel Slemrod. in Tax Policy and the Economy, Volume 17 , Poterba. 2003
Handle: RePEc:nbr:nberwo:9308
Note: EFG PE
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  1. Shapiro, Matthew D & Slemrod, Joel, 1995. "Consumer Response to the Timing of Income: Evidence from a Change in Tax Withholding," American Economic Review, American Economic Association, vol. 85(1), pages 274-83, March.
  2. Matthew D. Shapiro & Joel Slemrod, 2003. "Consumer Response to Tax Rebates," American Economic Review, American Economic Association, vol. 93(1), pages 381-396, March.
  3. Parcell, Ann D., 1999. "Challenges and Uncertainties in Forecasting Federal Individual Income Tax Receipts," National Tax Journal, National Tax Association, vol. 52(n. 3), pages 325-38, September.
  4. Blinder, Alan S, 1981. "Temporary Income Taxes and Consumer Spending," Journal of Political Economy, University of Chicago Press, vol. 89(1), pages 26-53, February.
  5. William G. Gale & John Sabelhaus, 1999. "Perspectives on the Household Saving Rate," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 30(1), pages 181-224.
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