Document Type

Article

Publication Date

2-7-2015

Abstract

We find that lottery tax windfalls finance higher state-government expenditures on supplemental security income that increase consumption, but only during bust periods. Wealth transfers from lottery winners to low income households enable fiscal policy to stabilize consumption during bust periods.

Comments

This is an author-produced PDF of an article that later underwent peer review and was accepted for publication in Economics Letters, volume 129, in 2015. The definitive publisher-authenticated version may differ from this one and is available online at https://doi.org/10.1016/j.econlet.2015.01.028.

Peer Reviewed

1

Copyright

Elsevier

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