&Apos;3rd of Tha Month&Apos;: Do Social Security Recipients Smooth Consumption between Checks?

By Melvin Stephens. 2002

163 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/4d778b00538c860549327fa1518be1643006b58f

Citations in the corpus

• Liquidity Constraints and Consumer Bankruptcy: Evidence from Tax Rebates (2014, unknown): “…have been shown to cause excessive consumption responses to transitory changes in income (Shapiro & Slemrod, 2003; Souleles, 1999; Hsieh, 2003; Stephens, 2003), limit investment in human capital (Dynarski, 2003), and amplify the behavioral response to unemployment insurance 1 As described in…”
• Income Changes and Consumption: Evidence from the 2013 Federal Government Shutdown (2015, unknown): “Work including Gruber (1997), Wolpin (1982), Pistaferri (2001), Stephens (2001), Stephens (2003) and Jappelli and Pistaferri (2007) demonstrate these strong responses empirically.”
• The Short-Term Mortality Consequences of Income Receipt (2011, unknown): “1 Papers by Verhuel et al. (1997), Rosenheck et al.”
• The effects of government transfers on monthly cycles in drug abuse, hospitalization and mortality ☆ (2007, unknown): “Stephens (2003) finds that people whose primary income is from Social Security exhibit a 16% increase in " instantaneous consumption " , such as dining out, in the week following the receipt of their checks.”
• Financially Fragile Households: Evidence and Implications (2011, unknown): “Stephens (2003) has also shown that consumption is influenced by the timing of Social Security checks: large increases in consumption are found on the day of and the day immediately following the arrival of a monthly Social Security check.”
• Failure to Refinance (2016, unknown): “…investments ( Choi, Madrian, and Laibson, 2011; Madrian and Shea, 2001; Thaler and Benartzi, 2004 ), failure to smooth consumption ( Shapiro, 2005; Stephens, 2003 ), failure to accurately respond to taxation ( Chetty, Looney, and Kroft, 2009; Finkelstein, 2009 ), mistakes associated with the…”
• A Reduced-Form Approach to Behavioral Public Finance (2012, unknown): “Similar timing effects are found in Supplemental Security Income (Dobkin & Puller 2007) and Social Security (Stephens 2003, Mastrobuoni & 9Furthermore, suppose that, for any n,t, there is a unique ~b in the support of F(b) that satisfies ~bþ enð~b, tÞ ¼ p tð Þ, with b þ en(b,t) strictly increasing…”
• THE PERSISTENCE OF POVERTY IN THE CONTEXT OF FINANCIAL INSTABILITY: A BEHAVIORAL PERSPECTIVE (2015, unknown): “Like the Indian farmers, budgets at the end of the month are often tight (Shapiro, 2005; Stephens, 2003).”
• Consumer Spending and the Economic Stimulus Payments of 2008 (2013, unknown): “24 There is also evidence that some older households increase their spending on receiving their (predictable) pension checks (Wilcox, 1989; and Stephens, 2003).”
• The First of the Month Effect: Consumer Behavior and Store Responses (2010, unknown): “Stephens (2003, 2006) finds evidence of a purchasing cycle in two distinct populations: social security recipients in the United States and paycheck recipients in the United Kingdom, both of whom receive checks monthly.”