Understanding Consumption Behavior: Evidence from Consumers' Reaction to Shopping Vouchers
利用2009年台湾购物券计划的调查数据，发现边际消费倾向约为四分之一，且商家折扣显著提升了政策效果，对研究消费行为和财政刺激政策有参考价值。
This paper advances our understanding of consumption behavior using the 2009 Taiwan Shopping Voucher Program. This program was universal and well publicized, and its payment to each individual was medium-sized. Based on survey data, it is found that the marginal propensity to consume is about one quarter, which is comparable to findings obtained by previous studies on consumers' response to fiscal stimulus payments. Further, vendors' discounts for voucher users played a significant role in boosting the effectiveness of the program.