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Large Investors
Andrew Cohen (Film producer)
Daniel M. Covitz
Don H. Kim
Julia Lynn Coronado
Junbo Wang
Lars E. O. Svensson
Mark W. French
Matt Pritsker
Peter Tulip
Stephanie Aaronson
其他書名
Implications for Equilibrium Asset Returns, Shock Absorption, and Liquidity
出版
Federal Reserve Board, Divisions of Research & Statistics and Monetary Affairs
, 2005
URL
http://books.google.com.hk/books?id=jgQTzwEACAAJ&hl=&source=gbs_api
註釋
The Jobs and Growth Tax Relief and Reconciliation Act of 2003 has been described as textbook fiscal stimulus. Using household survey data on the self-reported qualitative response to the tax cuts, we estimate that the boost to aggregate personal consumption expenditures from the child credit rebate and the reduction in withholdings raised the average level of real GDP in the second half of 2003 by 0.2 percent and by 0.3 percent in the first half of 2004. We also show that households in the survey were well aware of their tax cuts and tended to spend equally out of the child credit rebate and the reduced withholdings, a result that is contrary to the conventional wisdom.