Decomposing an Economic Impact into Its Local and Spillover Effects

Abstract: An analysis of cost-of-living increases for Social Security shows a strong direct effect on income within a state where the recipient lives but little evidence of a spillover effect in other states.

Keywords: Social Security; cost-of-living adjustment;

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Source: On the Economy

Publication Date: 2023-08-17