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Board of Governors of the Federal Reserve System (U.S.)
FEDS Notes
High-frequency Spending Responses to the Earned Income Tax Credit
Aditya Aladangady
Shifrah Aron-Dine
David B. Cashin
Wendy E. Dunn
Laura Feiveson
Paul Lengermann
Katherine Richard
Claudia R. Sahm
Abstract

Many households face large, high-frequency changes in income and have limited financial buffers to smooth their consumption through this income volatility. However, few studies have quantified spending responses to such timing shifts in income due to a lack of high-frequency spending data. We use a new dataset of anonymized daily, state-level spending to study a two-week delay in federal tax refunds with an earned income tax credit (EITC) in 2017.


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Aditya Aladangady & Shifrah Aron-Dine & David B. Cashin & Wendy E. Dunn & Laura Feiveson & Paul Lengermann & Katherine Richard & Claudia R. Sahm, High-frequency Spending Responses to the Earned Income Tax Credit, Board of Governors of the Federal Reserve System (U.S.), FEDS Notes 2018-06-21, 21 Jun 2018.
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DOI: 10.17016/2380-7172.2199
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Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

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