Workers' Spending Response to the 2011 Payroll Tax Cuts
调查工人对2011年工资税削减的支出反应，发现工人事后报告的花费比例（36%）远高于事前计划（14%），且这一现象在所有人口群体中普遍存在，原因尚不明确。
This paper investigates workers' spending response to the 2011 payroll tax cuts. Respondents were surveyed at the beginning and end of 2011, which allows the comparison of ex ante and ex post reported use of the extra income. While workers on average intended to spend 14 percent of their tax cut income, they ex post reported spending 36 percent of the funds. This pattern of higher spending ex post is shared across all demographic groups. Differences across workers in this shift to greater ex post spending are largely unexplained by differences in either present bias or unanticipated shocks, so in the end the upward revision in spending remains a puzzle.