Reported Effects versus Revealed-Preference Estimates: Evidence from the Propensity to Spend Tax Rebates
Reported Effects versus Revealed-Preference Estimates: Evidence from the Propensity to Spend Tax Rebates
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DOI：
10.1257/aeri.20180333
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发表时间：
2019-12-01
影响因子：
8.5
通讯作者：
Souleles, Nicholas S.
中科院分区：
文献类型：
--
作者：
Parker, Jonathan A.;Souleles, Nicholas S.
我们评估了两种估计经济政策效果的方法的一致性：（i）询问人们政策如何导致他们改变行为（报告效果）和（ii）使用行为数据和不同人群的待遇差异（显示偏好估计）来推断这种变化。这两种方法都被广泛用于衡量流动性增加引起的支出。使用2008年准随机发放的联邦刺激资金，我们发现报告更大支出反应的家庭的支出倾向的显示偏好估计更大，并且该方法产生类似的平均倾向。但关于消费倾向与流动性之间的关系，证据喜忧参半。
We evaluate the consistency of two methods for estimating the effect of an economic policy: (i) asking people how the policy caused them to change their behavior (reported effects) and (ii) inferring this change using data on behavior and differences in treatment across people (revealed-preference estimates). Both methods are widely used to measure spending caused by increases in liquidity. Using federal stimulus payments disbursed quasi-randomly in 2008, we find larger revealed-preference estimates of spending propensities for households who report greater spending responses, and the methods produce similar average propensities. But evidence is mixed on the relationship between spending propensities and liquidity.