000			02337cam a22003137 4500
001			w0283
003			NBER
005			20211020115518.0
006			m o d
007			cr cnu||||||||
008			210910s1978 mau fo 000 0 eng d
100	1		_aBlinder, Alan S. _96413
245	1	0	_aTemporary Income Taxes and Consumer Spending / _cAlan S. Blinder.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c1978.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w0283
500			_aOctober 1978.
520	3		_aBoth economic theory and casual empirical observation of the U.S. economy suggest that spending propensities from temporary tax changes are smaller than those from permanent ones, but neither provides much guidance about the magnitude of this difference. This paper offers new empirical estimates of this difference and finds it to he quite substantial. The analysis is based on an amendment of the standard distributed lag version of the permanent in-conic hypothesis that distinguishes temporary taxes from other income on the grounds that the former are "more transitory." This amendment, which is broadly consistent with rational expectations, leads to a nonlinear consumption function. Though the standard error is unavoidably large, the point estimate suggests that a temporary tax change is treated as a 50-50 blend of a normal income tax change and a pure windfall. Over a 1-year planning horizon, a temporary tax change is estimated to have only a little more than half the impact of a permanent tax change of equal magnitude, and a rebate is estimated to have only about 38 percent of the impact.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aE - Macroeconomics and Monetary Economics _2Journal of Economic Literature class.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w0283.
856	4	0	_uhttps://www.nber.org/papers/w0283
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w0283
942			_2ddc _cW-PAPER
999			_c348344 _d306906