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Understanding Consumption Behavior: Evidence from Consumers' Reaction to Shopping Vouchers

Kamhon Kan (), Shin-Kun Peng () and Ping Wang ()

American Economic Journal: Economic Policy, 2017, vol. 9, issue 1, 137-53

Abstract: This paper advances our understanding of consumption behavior using the 2009 Taiwan Shopping Voucher Program. This program was universal and well publicized, and its payment to each individual was medium-sized. Based on survey data, it is found that the marginal propensity to consume is about one quarter, which is comparable to findings obtained by previous studies on consumers'response to fiscal stimulus payments. Further, vendors' discounts for voucher users played a significant role in boosting the effectiveness of the program.

JEL-codes: D12 E21 E62 (search for similar items in EconPapers)
Date: 2017
Note: DOI: 10.1257/pol.20130426
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Handle: RePEc:aea:aejpol:v:9:y:2017:i:1:p:137-53