Household Expenditure And The Income Tax Rebates Of 2001
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Household Expenditure And The Income Tax Rebates Of 2001
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Author : David S. Johnson
language : en
Publisher:
Release Date : 2004
Household Expenditure And The Income Tax Rebates Of 2001 written by David S. Johnson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Cost and standard of living categories.
Under the Economic Growth and Tax Relief Reconciliation Act of 2001, most U.S. taxpayers received a tax rebate between July and September, 2001. The week in which the rebate was mailed was based on the second-to-last digit of the taxpayer's Social Security number, a digit that is effectively randomly assigned. Using special questions about the rebates added to the Consumer Expenditure Survey, we exploit this historically unique experiment to measure the change in consumption expenditures caused by receipt of the rebate and to test the Permanent Income Hypothesis and related models. We find that households spent about 20-40 percent of their rebates on non-durable goods during the three-month period in which their rebates were received, and roughly another third of their rebates during the subsequent three-month period. The implied effects on aggregate consumption demand are significant. The estimated responses are largest for households with relatively low liquid wealth and low income, consistent with liquidity constraints.
Household Expenditure And The Income Tax Rebates Of 2001
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Author : David Johnson
language : en
Publisher:
Release Date : 2011
Household Expenditure And The Income Tax Rebates Of 2001 written by David Johnson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
During 2001, most U.S. taxpayers were mailed a Federal tax rebate in a randomly assigned week between July and September. Using special questions added to the Consumer Expenditure Survey, we use this historically unique experiment to measure the change in consumption expenditures caused by receipt of the rebate and to test the Permanent Income Hypothesis and related models. Households spent about 20-40 percent of their rebates on non-durable goods during the three-month period in which they received their rebates, and roughly two-thirds of their rebates cumulatively during the quarter of receipt and subsequent three-month period. The implied effects on aggregate consumption demand are substantial. Responses are larger for households with low liquid wealth or low income, consistent with liquidity constraints.
Measuring What We Spend
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Author : National Research Council
language : en
Publisher: National Academies Press
Release Date : 2013-02-15
Measuring What We Spend written by National Research Council and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-15 with Political Science categories.
The Consumer Expenditure (CE) surveys are the only source of information on the complete range of consumers' expenditures and incomes in the United States, as well as the characteristics of those consumers. The CE consists of two separate surveys: (1) a national sample of households interviewed five times at three-month intervals; and (2) a separate national sample of households that complete two consecutive one-week expenditure diaries. For more than 40 years, these surveys, the responsibility of the Bureau of Labor Statistics (BLS), have been the principal source of knowledge about changing patterns of consumer spending in the U.S. population. In February 2009, BLS initiated the Gemini Project, the aim of which is to redesign the CE surveys to improve data quality through a verifiable reduction in measurement error with a particular focus on underreporting. The Gemini Project initiated a series of information-gathering meetings, conference sessions, forums, and workshops to identify appropriate strategies for improving CE data quality. As part of this effort, BLS requested the National Research Council's Committee on National Statistics (CNSTAT) to convene an expert panel to build on the Gemini Project by conducting further investigations and proposing redesign options for the CE surveys. The charge to the Panel on Redesigning the BLS Consumer Expenditure Surveys includes reviewing the output of a Gemini-convened data user needs forum and methods workshop and convening its own household survey producers workshop to obtain further input. In addition, the panel was tasked to commission options from contractors for consideration in recommending possible redesigns. The panel was further asked by BLS to create potential redesigns that would put a greater emphasis on proactive data collection to improve the measurement of consumer expenditures. Measuring What We Spend summarizes the deliberations and activities of the panel, discusses the conclusions about the uses of the CE surveys and why a redesign is needed, as well as recommendations for the future.
Improving The Measurement Of Consumer Expenditures
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Author : Christopher D. Carroll
language : en
Publisher: University of Chicago Press
Release Date : 2015-06-16
Improving The Measurement Of Consumer Expenditures written by Christopher D. Carroll and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-16 with Business & Economics categories.
Robust and reliable measures of consumer expenditures are essential for analyzing aggregate economic activity and for measuring differences in household circumstances. Many countries, including the United States, are embarking on ambitious projects to redesign surveys of consumer expenditures, with the goal of better capturing economic heterogeneity. This is an appropriate time to examine the way consumer expenditures are currently measured, and the challenges and opportunities that alternative approaches might present. Improving the Measurement of Consumer Expenditures begins with a comprehensive review of current methodologies for collecting consumer expenditure data. Subsequent chapters highlight the range of different objectives that expenditure surveys may satisfy, compare the data available from consumer expenditure surveys with that available from other sources, and describe how the United States’s current survey practices compare with those in other nations.
Measuring What We Spend
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Author : National Research Council
language : en
Publisher: National Academies Press
Release Date : 2013-03-15
Measuring What We Spend written by National Research Council and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-15 with Political Science categories.
The Consumer Expenditure (CE) surveys are the only source of information on the complete range of consumers' expenditures and incomes in the United States, as well as the characteristics of those consumers. The CE consists of two separate surveys: (1) a national sample of households interviewed five times at three-month intervals; and (2) a separate national sample of households that complete two consecutive one-week expenditure diaries. For more than 40 years, these surveys, the responsibility of the Bureau of Labor Statistics (BLS), have been the principal source of knowledge about changing patterns of consumer spending in the U.S. population. In February 2009, BLS initiated the Gemini Project, the aim of which is to redesign the CE surveys to improve data quality through a verifiable reduction in measurement error with a particular focus on underreporting. The Gemini Project initiated a series of information-gathering meetings, conference sessions, forums, and workshops to identify appropriate strategies for improving CE data quality. As part of this effort, BLS requested the National Research Council's Committee on National Statistics (CNSTAT) to convene an expert panel to build on the Gemini Project by conducting further investigations and proposing redesign options for the CE surveys. The charge to the Panel on Redesigning the BLS Consumer Expenditure Surveys includes reviewing the output of a Gemini-convened data user needs forum and methods workshop and convening its own household survey producers workshop to obtain further input. In addition, the panel was tasked to commission options from contractors for consideration in recommending possible redesigns. The panel was further asked by BLS to create potential redesigns that would put a greater emphasis on proactive data collection to improve the measurement of consumer expenditures. Measuring What We Spend summarizes the deliberations and activities of the panel, discusses the conclusions about the uses of the CE surveys and why a redesign is needed, as well as recommendations for the future.
Handbook Of Macroeconomics
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Author : John B. Taylor
language : en
Publisher: Elsevier
Release Date : 2016-12-01
Handbook Of Macroeconomics written by John B. Taylor and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-01 with Business & Economics categories.
Handbook of Macroeconomics surveys all major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues. It courageously examines why existing models failed during the financial crisis, and also addresses well-deserved criticism head on. With contributions from the world's chief macroeconomists, its reevaluation of macroeconomic scholarship and speculation on its future constitute an investment worth making. Serves a double role as a textbook for macroeconomics courses and as a gateway for students to the latest research Acts as a one-of-a-kind resource as no major collections of macroeconomic essays have been published in the last decade
Successful Austerity In The United States Europe And Japan
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Author : Nicoletta Batini
language : en
Publisher: International Monetary Fund
Release Date : 2012-07-01
Successful Austerity In The United States Europe And Japan written by Nicoletta Batini and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-01 with Business & Economics categories.
The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract their stimulus measures in an effort to regain market confidence. Using regime-switching VARs we estimate the impact of fiscal adjustment on the United States, Europe and Japan allowing for fiscal multipliers to vary across recessions and booms. We also estimate ex ante probabilities of recessions derived in association with different-sized and different types of consolidation shocks (expenditure- versus tax-based). We use these estimates to understand how consolidations should be designed to be most effective in terms of permanently and rapidly reducing a country’s debt-to-GDP ratio. The main finding is that smooth and gradual consolidations are to be preferred to frontloaded or aggressive consolidations, especially for economies in recession facing high risk premia on public debt, because sheltering growth is key to the success of fiscal consolidation in these cases.
Taxes In America
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Author : Leonard E. Burman
language : en
Publisher: Oxford University Press
Release Date : 2020-01-08
Taxes In America written by Leonard E. Burman and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-08 with Business & Economics categories.
Arguments about taxation are among the most heated- no other topic is as influential to the role of government and the distribution of costs and benefits in America. But while understanding of our tax system is of vital importance, the complexity can create confusion. Two of America's leading authorities on taxes, Leonard E. Burman and Joel Slemrod, bring clarity in this concise explanation of how our tax system works, how it affects people and businesses, and how it might be improved. The book explores what makes a tax system fair, simple, and efficient, why our system falls short, and whether the new tax law promises much, if any, improvement. Accessibly written and organized in a clear, question-and-answer format, the book describes the intricacies of the modern tax system in an easy-to-grasp manner. It has been revised and updated to both explain the Tax Cuts and Jobs Act (TCJA) in 2017, the most comprehensive reform of its income tax system since 1986, and to examine its likely effects on individuals, businesses, and society. Among the questions discussed are: How much more tax could the IRS collect with better enforcement? How do tax burdens vary around the world? Why do corporations pay so little tax, even though they earn trillions of dollars every year? What kind of tax system is most conducive to economic growth? And, can taxes be fair?
It S Not All Fiscal
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Author : Laura Jaramillo
language : en
Publisher: International Monetary Fund
Release Date : 2015-05-26
It S Not All Fiscal written by Laura Jaramillo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-26 with Business & Economics categories.
We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a significant long-term relation between consumption and the different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that wealth effects were sizeable, and therefore need to be kept in mind when analyzing consumption trends going forward.
Social Issues In Contemporary Native America
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Author : Hilary N. Weaver
language : en
Publisher: Routledge
Release Date : 2016-04-01
Social Issues In Contemporary Native America written by Hilary N. Weaver and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-01 with Social Science categories.
Hilary Weaver has drawn together leading Native American social workers, researchers, and academics to provide current information on a variety of social issues related to Native American children, families, and reservations both in the USA and in Canada. Divided into four major sections, each containing an introduction, this book places the historical foundations of Native American social work in context in order to fully provide the reader with a comprehensive survey on various aspects of working with Native American families; community health and wellness; and community revitalization and decolonization. This groundbreaking volume should be read by both educators and students in social work and other helping professions in the USA and Canada as well as all human service professionals working with Native Americans.