소득세 환급액에 대한 가계의 소비반응

다국어 초록 (Multilingual Abstract)

Income tax refunds is temporary income. The purpose of this research is to analyze the response of household consumption to income tax refunds as temporary income. The balanced panel was composed of the National Survey of Tax and Benefit for 3rd-5th wave and analyzed by random effects panel probit model.
Research results are as follows;
According to the regression analysis, income tax refunds appeared negatively significant to the purposes of use and consumption expenditure, whereas not significant to liquidity constraint, household financial variables, demographic variables, and macroeconomic situation variables. And according to the analysis of marginal effect, the more income tax refunds increase, the more consumption probability decreases. Research result suggests that the consumption response to income tax refunds coincides with the forecast of mental accounting theory and behavioral approach is useful in describing the consumption behavior of Korean households. Further, a temporary fiscal-policy for economic stimulus (e.g. tax rebate) could become an effective policy affecting household consumption.

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