High-frequency Spending Responses to the Earned Income Tax Credit

Aditya Aladangady, Shifrah Aron-Dine, David B. Cashin, Wendy E. Dunn, Laura Feiveson, Paul Lengermann, Katherine Richard and Claudia Sahm
Additional contact information
David B. Cashin: https://www.federalreserve.gov/econres/david-b-cashin.htm
Wendy E. Dunn: https://www.federalreserve.gov/econres/wendy-e-dunn.htm
Laura Feiveson: https://www.federalreserve.gov/econres/laura-j-feiveson.htm
Paul Lengermann: https://www.federalreserve.gov/econres/paul-lengermann.htm

No 2018-06-21, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Many households face large, high-frequency changes in income and have limited financial buffers to smooth their consumption through this income volatility. However, few studies have quantified spending responses to such timing shifts in income due to a lack of high-frequency spending data. We use a new dataset of anonymized daily, state-level spending to study a two-week delay in federal tax refunds with an earned income tax credit (EITC) in 2017.

Date: 2018-06-21
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2018-06-21

DOI: 10.17016/2380-7172.2199

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