| 000 | 02257nab a2200289 c 4500 | ||
|---|---|---|---|
| 999 |
_c144558 _d144558 |
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| 003 | ES-MaIEF | ||
| 005 | 20210827125530.0 | ||
| 007 | ta | ||
| 008 | 210827t2021 us ||||| |||| 00| 0|eng d | ||
| 040 |
_aEs-MaIEF _bspa _cES-MaIEF |
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| 100 | 1 |
_964594 _aCashin, David |
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| 245 | 4 |
_aThe spending and consumption response to a VAT rate increase _c David Cashin and Takashi Unayama |
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| 260 | _c2021 | ||
| 500 | _aDisponible también en formato electrónico. | ||
| 500 | _aResumen. | ||
| 504 | _aBibliografía. | ||
| 520 | _aThis study estimates the effect of an increase in Japan’s value-added tax (VAT) rate on the timing of household expenditures and consumption, which do not necessarily coincide. The empirical analysis finds that spending on a wide range of durables and storables surged in the months prior to the tax rate increase, fell sharply upon implementation, but returned to their previous long-run levels within a few months. Nonstorable, nondurable expenditures increased slightly in the month prior to the tax rate increase but were otherwise unresponsive. A dynamic structural model of household consumption reveals that the observed spending responses were driven by stockpiling behavior, the insensitivity of durable and nondurable consumption to the tax rate increase, and strong complementarities between durables and nondurables. By mapping durable and storable expenditures into consumption, the model allows for a considerably more precise estimate of the intertemporal elasticity of substitution in consumption than the standard method, which focuses on nondurable spending only. The results, external validity checks, and marginal excess burden calculation suggest that anticipated changes in VAT rates have a large, though highly transitory, impact on household spending that generates miniscule efficiency costs. | ||
| 650 | 4 |
_950141 _aIMPUESTO SOBRE EL VALOR AÑADIDO |
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| 650 | 4 |
_954834 _aINCREMENTO |
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| 650 | 4 |
_940660 _aCONSUMO FAMILIAR |
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| 650 | 4 |
_944856 _aGASTOS |
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| 650 | 4 |
_947522 _aJAPON |
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| 650 | 4 |
_947776 _aMODELOS ECONOMETRICOS |
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| 700 | 1 |
_964595 _aUnayama, Takashi |
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| 773 | 0 |
_9165527 _oOP 233/2021/2 _tNational Tax Journal _w(IEF)86491 _x 0028-0283 _gv. 74, n. 2, June 2021, p. 313-346 |
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| 942 | _cART | ||