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Journal Article
Pink and Poverty Taxes on Marriage
Pitts, M. Melinda; Ilin, Elias; Kotlikoff, Laurence J. (2022-10-03)
A "pink tax" is the extra cost charged for goods and services esigned for women. In this research, we expand the scope of this pink tax by examining gender and income differentials in marriage taxes. A marriage tax reflects the decline in spending power as a result of the difference in taxes and transfer benefits that arise from marriage. We use a lifetime measure of the marriage tax and show that low-income females with children are penalized the most, with a loss of 3.35 percent of their lifetime resources because of marriage. This marriage tax also makes a significant difference to their ...
Policy Hub , Volume 2022 , Issue 12

Working Paper
Old, sick, alone, and poor: a welfare analysis of old-age social insurance programs
Koreshkova, Tatyana; Kopecky, Karen A.; Braun, R. Anton (2013-07-01)
Poor health, large acute and long-term care medical expenses, and spousal death are significant drivers of impoverishment among retirees. We document these facts and build a rich, overlapping generations model that reproduces them. We use the model to assess the incentive and welfare effects of Social Security and means-tested social insurance programs such as Medicaid and food stamp programs, for the aged. We find that U.S. means-tested social insurance programs for retirees provide significant welfare benefits for all newborn. Moreover, when means-tested social insurance benefits are of the ...
FRB Atlanta Working Paper , Paper 2013-02

Working Paper
Consumption and Hours between the United States and France
Yang, Fang; Fang, Lei (2021-01-29)
We document large differences between the United States and France in allocations of consumption expenditures and time by age. Using a life-cycle model, we quantify to what extent tax and transfer programs and market and home productivity can account for the differences. We find that while labor efficiency by age and home-production productivity are crucial in accounting for the differences in the allocation of time, the consumption tax and social security are more important regarding allocation of expenditures. Adopting the U.S. consumption tax decreases welfare in France, and adopting the ...
FRB Atlanta Working Paper , Paper 2021-7

Working Paper
Is Our Fiscal System Discouraging Marriage? A New Look at the Marriage Tax
Pitts, M. Melinda; Ilin, Elias; Kotlikoff, Laurence J. (2022-06-29)
We develop, apply, and test a new measure of the marriage tax: the reduction in future spending from getting married. Our measure is a comprehensive, actuarial (expected) present value. It incorporates all major and most minor US tax and benefit programs, weighing the present value of additional net taxes from marrying along each marital survivor path by the path’s probability. And it assumes clone marriage—marrying oneself—to ensure the living-standard loss from marrying is unaffected by spousal choice. We calculate our marriage tax for young respondents using the Survey of Consumer ...
FRB Atlanta Working Paper , Paper 2022-6

Briefing
Asymmetric responses to tax-induced changes in personal income: the 2013 payroll tax hike versus anticipated 2012 tax refunds
Bracha, Anat; Cooper, Daniel H. (2013)
As part of the Boston Earned Income Tax Credit Coalition's free tax preparation service offered at the Boston Roxbury Resource Center between January and April 2013, 945 low-to-moderate income individuals were asked about payroll tax changes, financial planning, and their personal characteristics. Using these survey responses, the authors calculated how these individuals planned to respond to the payroll tax hike and their tax refund. The results show that their marginal propensity to consume (MPC) out of the tax refund is 30 percentage points lower than their spending reaction to the tax ...
Public Policy Brief

Working Paper
Do increases in subsidized housing reduce the incidence of homelessness?: evidence from the low-income housing tax credit
Jackson, Osborne; Kawano, Laura (2015-05-01)
The provision of affordable housing for low-income families is often cited by policymakers and advocacy groups as a necessity for ending homelessness. The U.S. government spends a considerable amount on housing programs for the nation's poor, and the use of federal housing programs to mitigate homelessness has attracted increasing interest following the recent financial downturn and housing market crisis. While important for housing policy, however, the question of whether subsidized housing is effective for combating homelessness remains unresolved. In this paper, the authors examine the ...
Working Papers , Paper 15-11

Working Paper
Government Transfers and Consumer Spending among Households with Children during COVID-19
Wu, Pinghui; Shaefer, H. Luke; Fusaro, Vincent (2022-06-01)
Leveraging novel data on consumer credit and debit card spending by Zip code, this study examines how the impact of government transfers on economic well-being varied by household type during the COVID-19 pandemic. Our findings indicate that pandemic transfers disproportionately benefited households with children, buffering them from earnings losses at the pandemic’s start and sustaining spending growth over time. Household essential spending increased proportionally with the delivery of cash transfers, while discretionary spending was influenced more by pandemic-specific factors beyond ...
Working Papers , Paper 22-17

Working Paper
House Prices and Rents in the 21st Century
Willen, Paul S.; Loewenstein, Lara (2023-02-01)
We study the joint evolution of prices and rents of residential property. After constructing rent and price indices for renter- and owner-occupied properties, we decompose the change in the price of occupant-owned property into (1) changes in rent, (2) changes in the relative prices of investor- and occupant-owned properties, and (3) changes in the price-rent ratio. Via a simple model, we link our decomposition to different sources of variation in house prices. We argue that while the 2000s boom was plausibly driven by exuberant expectations, the boom of the 2020s more likely resulted from a ...
Working Papers , Paper 23-2

Working Paper
The Impact of Government Transfer Payment Frequency on Consumption: Evidence from Delayed UI
Orlando, Zachary; Patki, Dhiren; Gelman, Michael (2024-12-01)
We study how the frequency of government transfer payments affects spending behavior. Our empirical approach uses transaction-level data on income and spending and exploits quasi-random delays in the receipt of unemployment insurance (UI) benefits. Spending drops by about half of the loss in income that occurs while individuals wait for UI benefits, revealing the value of periodic payments for liquidity-constrained individuals. Once delayed payments are received as lump sums, individuals reallocate spending toward less commonly purchased big-ticket categories that are dominated by durables. ...
Working Papers , Paper 24-16

Working Paper
Proxy SVARs: Asymptotic Theory, Bootstrap Inference, and the Effects of Income Tax Changes in the United States
Lunsford, Kurt Graden; Jentsch, Carsen (2016-07-19)
Proxy structural vector autoregressions (SVARs) identify structural shocks in vector autoregressions (VARs) with external proxy variables that are correlated with the structural shocks of interest but uncorrelated with other structural shocks. We provide asymptotic theory for proxy SVARs when the VAR innovations and proxy variables are jointly ?-mixing. We also prove the asymptotic validity of a residual-based moving block bootstrap (MBB) for inference on statistics that depend jointly on estimators for the VAR coefficients and for covariances of the VAR innovations and proxy variables. These ...
Working Papers (Old Series) , Paper 1619

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