Replication data for: Cash for Corollas: When Stimulus Reduces Spending

Principal Investigator(s):  View help for Principal Investigator(s) Mark Hoekstra; Steven L. Puller; Jeremy West

Version:  View help for Version V1

Name File Type Size Last Modified
  AEJApp-2015-0172-ReplicationCode 10/20/2021 03:11:PM
LICENSE.txt text/plain 14.6 KB 10/12/2019 09:08:AM

Project Citation: 

Hoekstra, Mark, Puller, Steven L., and West, Jeremy. Replication data for: Cash for Corollas: When Stimulus Reduces Spending. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113645V1

Project Description

Summary:  View help for Summary The 2009 Cash for Clunkers program aimed to stimulate consumer spending in the new automobile industry, which experienced disproportionate reductions in demand and employment during the Great Recession. Exploiting program eligibility criteria in a regression discontinuity design, we show more than half of the subsidies went to households who would have purchased during the two-month program anyway; the rest accelerated sales by no more than eight months. Moreover, the program's fuel efficiency restrictions shifted purchases toward vehicles that cost on average $7,600 less. Thus, we estimate on net the $3 billion program reduced total new vehicle spending by $5 billion.

Scope of Project

Subject Terms:  View help for Subject Terms Automobile purchases
JEL Classification:  View help for JEL Classification
      E32 Business Fluctuations; Cycles
      E62 Fiscal Policy
      E65 Studies of Particular Policy Episodes
      H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
      H31 Fiscal Policies and Behavior of Economic Agents: Household
      L62 Automobiles; Other Transportation Equipment; Related Parts and Equipment
Geographic Coverage:  View help for Geographic Coverage United States, Texas
Data Type(s):  View help for Data Type(s) program source code
Collection Notes:  View help for Collection Notes Replication source code in R language. Proprietary data must be obtained separately. See ReadMe file.

Methodology

Data Source:  View help for Data Source Proprietary data from various sources, documented in ReadMe file.

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Published Versions

V1 [2019-10-12]

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