Understanding Consumption Behavior: Evidence from Consumers' Reaction to Shopping Vouchers

• 成果类型: Article
• 署名作者: Kan, Kamhon; Peng, Shin-Kun; Wang, Ping
• 署名单位: Academia Sinica - Taiwan; National Central University; National Taiwan University; Washington University (WUSTL); Federal Reserve System - USA; Federal Reserve Bank - St. Louis; National Bureau of Economic Research
• 刊物名称: AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY
• ISSN/ISSBN: 1945-7731
• DOI: 10.1257/pol.20130426
• 发表日期: 2017
• 页码: 137-153
• 关键词: tax

摘要

This paper advances our understanding of consumption behavior using the 2009 Taiwan Shopping Voucher Program. This program was universal and well publicized, and its payment to each individual was medium-sized. Based on survey data, it is found that the marginal propensity to consume is about one quarter, which is comparable to findings obtained by previous studies on consumers' response to fiscal stimulus payments. Further, vendors' discounts for voucher users played a significant role in boosting the effectiveness of the program.