When a Dollar is Not a Dollar: Examining How Timing and Delivery of Government Transfers Influence Household Consumption Decisions

• 成果类型: Article
• 署名作者: Lamothe, Ethan G.; Marshall, Mary E.; Schwebke, Jason M.
• 署名单位: State University System of Florida; University of Central Florida; Portland State University; Texas Tech University System; Texas Tech University
• 刊物名称: ACCOUNTING REVIEW
• ISSN/ISSBN: 0001-4826; 1558-7967
• DOI: 10.2308/TAR-2024-0150
• 发表日期: 2026-03
• 页码: 373-394
• 关键词: behavioral life-cycle; mental budgeting; stimulus; subsidy; government transfer; income-tax credit; fungibility; PSYCHOLOGY; rebate; IMPACT

摘要

Governments implement wealth transfers with different policy goals and distribution methods. Prior research examines the timing (lump sum/periodic) of transfers but fails to simultaneously consider payment delivery method (standalone/combined with other income). Based on the behavioral life-cycle model, we predict payment timing influences how recipients spend government transfers, but that this effect is muted when the transfer payment is combined with other income. In contrast to prior research, our experimental findings provide theory-consistent results and suggest recipients of a periodic transfer spend more of the transfer than recipients of a lump sum transfer, but only when the transfer is standalone and not combined. Our findings help to explain theory-inconsistent results of prior research and extend the literature on the behavioral life-cycle model and mental budgeting. Moreover, our results suggest policymakers can intentionally structure the distribution of government transfers to encourage household spending or saving consistent with policy goals.