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

Matthew Shapiro and Joel Slemrod

No 9308, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: E21 H31 (search for similar items in EconPapers)
Date: 2002-11
New Economics Papers: this item is included in nep-pbe, nep-pke and nep-pub
Note: EFG PE
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Citations: View citations in EconPapers (12)

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
Published as Matthew D. Shapiro & Joel Slemrod, 2003. "Did the 2001 Tax Rebate Stimulate Spending? Evidence from Taxpayer Surveys," Tax Policy and the Economy, vol 17(), pages 83-109.

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