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                                                                                    Discussion Paper
                                                                                
                                            High-frequency Spending Responses to the Earned Income Tax Credit
                                        
                                        
                                        
                                        
                                                                                    
                                                                                                    Many households face large, high-frequency changes in income and have limited financial buffers to smooth their consumption through this income volatility. However, few studies have quantified spending responses to such timing shifts in income due to a lack of high-frequency spending data. We use a new dataset of anonymized daily, state-level spending to study a two-week delay in federal tax refunds with an earned income tax credit (EITC) in 2017.