The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data

By Leibniz-Informationszentrum Wirtschaft. 2008

271 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/aad2e391f1078299a13313f12f1bfc332868adf3

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Citations in the corpus

Interest Rate Pass-Through: Mortgage Rates, Household Consumption, and Voluntary Deleveraging (2017, background): “…(2006) and Tufano (2009) for recent surveys of this literature. household responses to income changes and government stimulus programs (e.g., Agarwal, Liu, and Souleles 2007; Parker et al. 2013; Kaplan and Violante 2014).8 In the context of this literature, we provide an empirical…”
Natural Experiments in Macroeconomics (2015, unknown): “These two studies find different results: Sales tax holidays seem to have longlasting effects on purchases of some affected goods (Agarwal et al. (2013)), whereas the 2009 “Cash for Clunkers” program merely shifted the purchases of new cars in time (Mian and Sufi (2012)).”
Monetary Policy Pass-Through: Household Consumption and Voluntary Deleveraging (2014, background): “For instance, Agarwal et al. (2007) analyze the tax rebate of 2001 and show that consumers initially saved 5Evidence of financing constraints at the household level has been widely documented by, among others, Zeldes (1989), Jappelli and Pagano (1989), Campbell and Mankiw (1989), and Carroll and…”
Wealth Shocks, Unemployment Shocks and Consumption in the Wake of the Great Recession (2015, background): “Shapiro and Slemrod (2003) and Agarwal et al. (2007) examine consumption responses to the receipt of a tax rebate.”
Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program (2016, background): “Finally, our findings investigating the possibility of crowding-out of private activity by government intervention in the context of mortgage renegotiation broadly relate to the literature on government spending and Ricardian equivalence (e.g., Barro 1989; Johnson, Parker, and Souleles 2006; Agarwal”
Consumer Spending and the Economic Stimulus Payments of 2008 (2013, unknown): “By contrast, using data on actual spending in 2001, Agarwal, Liu, and Souleles (2007) finds that, while on average households initially used some of their rebates to increase credit card payments and thereby pay down debt, the resulting liquidity was soon followed by a substantial increase in…”
Payday Loans and Credit Cards: New Liquidity and Credit Scoring Puzzles? (2009, unknown): “In a prior study, Agarwal et al. (2007a) study the impact of relationships a credit card holder has with her bank (deposits, loans, and investments) on credit card defaults.”
Debt and the Consumption Response to Household Income Shocks (2015, background): “More broadly, a better understanding of the dynamic relationship between a household’s spending decisions, income process, and balance sheet, is imperative to accurately describing microeconomic drivers of business cycles.”
Household Response to the 2008 Tax Rebate: Survey Evidence and Aggregate Implications (2010, unknown): “Indeed, using credit card records at a large financial institution, Agarwal et al. (2008) find that payments to credit card accounts increased soon after receiving the 2001 rebate, but were subsequently offset by higher spending.”
Mortgage Rates, Household Balance Sheets, and the Real Economy (2014, unknown): “(2010) and Agarwal et al. (2011) examine the impact of securitization on mortgage foreclosure and renegotiation rates. Mayer et al. (2014) study the effects of modification programs on household behavior. Tracy and Wright (2012) use variation in mortgage rates implied by differences in contract type”
Household Debt: Facts, Puzzles, Theories, and Policies (2015, background): “Agarwal et al (2007) find that, following the 2001 federal income tax rebates, the average consumer first paid down credit card debt, but soon afterward increased her spending, leading to a net increase in spending of about 40% of the rebate amount.”