Asymmetric responses to income changes: The payroll tax increase versus tax refund in 2013

Anat Bracha; Daniel Cooper

doi:10.1016/j.econlet.2014.07.028

Asymmetric responses to income changes: The payroll tax increase versus tax refund in 2013

Anat Bracha, Daniel Cooper^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

8 Scopus citations

Abstract

We examine low-to-middle incomeindividuals' responses to the 2013 payroll tax increase and their 2012 tax refund and find that consumption declines 90 cents per dollar lost to the tax increase, and rises 60 cents per additional tax refund dollar.

Original language	English
Pages (from-to)	534-538
Number of pages	5
Journal	Economics Letters
Volume	124
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2014.07.028
State	Published - Sep 2014
Externally published	Yes

Keywords

Consumption
Payroll tax changes
Saving
Tax refunds

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10.1016/j.econlet.2014.07.028

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abstract = "We examine low-to-middle incomeindividuals' responses to the 2013 payroll tax increase and their 2012 tax refund and find that consumption declines 90 cents per dollar lost to the tax increase, and rises 60 cents per additional tax refund dollar.",

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KW - Consumption

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KW - Saving

KW - Tax refunds

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Asymmetric responses to income changes: The payroll tax increase versus tax refund in 2013

Abstract

Keywords

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