Goldin & Homonoff - DataSpace at Princeton University
Goldin & Homonoff - DataSpace at Princeton University Goldin & Homonoff - DataSpace at Princeton University
Table IV: Effect of Taxes on Cigarette Demand by Income - Extensive and Intensive Margins Extensive Margin Intensive Margin (1) (2) (3) (4) (5) (6) Excise Tax -0.165 ∗∗∗ -0.136 ∗∗∗ -0.128 ∗∗∗ -7.665 ∗∗∗ -7.379 ∗∗∗ -6.423 ∗∗∗ (0.035) (0.036) (0.035) (1.102) (1.055) (1.077) Sales Tax -0.333 ∗ -0.094 -0.092 0.200 1.428 1.392 (0.181) (0.160) (0.160) (5.885) (7.077) (7.234) Excise*Low-income 0.082 0.081 0.045 3.665 ∗ 3.672 ∗ -0.211 (0.058) (0.059) (0.063) (1.974) (1.985) (2.518) Sales*Low-income -0.339 -0.337 -0.350 -16.690 ∗∗ -16.710 ∗∗ -17.579 ∗∗ (0.229) (0.230) (0.219) (7.673) (7.666) (7.841) Income -0.123 ∗∗∗ -0.123 ∗∗∗ -0.106 ∗∗∗ -0.272 -0.272 1.533 ∗∗∗ (0.006) (0.006) (0.011) (0.186) (0.186) (0.312) Income Trend -0.002 -0.232 ∗∗∗ (0.001) (0.028) Economic Conditions x x x x Income Trend x x F-stat 3.53 3.44 3.13 7.07 7.11 5.24 prob>F 0.07 0.07 0.09 0.01 0.01 0.03 N 934,106 934,106 934,106 198,914 198,914 198,914 Standard errors clustered at the state level in parentheses. All specifications include individual demographic characteristics and state, year, and calendar month fixed effects. The F-stat is associated with the test for equality between the excise*low-income and sales*low-income interaction coefficients. ∗ p < 0.10, ∗∗ p < 0.05, ∗∗∗ p < 0.01 42
Table V: Effect of Taxes on Cigarette Demand by Income - Overall Effect (1) (2) (3) Excise Tax -4.802 ∗∗∗ -4.207 ∗∗∗ -3.843 ∗∗∗ (0.597) (0.600) (0.599) Sales Tax -6.185 ∗∗∗ -1.445 -1.411 (2.477) (2.598) (2.595) Excise*Low-income 2.360 ∗∗∗ 2.346 ∗∗∗ 0.789 (0.664) (0.664) (0.666) Sales*Low-income -10.094 ∗∗∗ -10.062 ∗∗∗ -10.496 ∗∗∗ (2.847) (2.848) (2.856) Income -2.367 -2.368 -1.642 (0.093) (0.093) (0.162) Income Trend -0.089 (0.013) Economic Conditions x x Income Trend x F-stat 15.32 15.20 12.58 prob>F 0.00 0.00 0.00 N 934,106 934,106 934,106 Standard errors clustered at the state level in parentheses. All specifications include individual demographic characteristics and state, year, and calendar month fixed effects. The F-stat is associated with the test for equality between the excise*low-income and sales*low-income interaction coefficients. ∗ p < 0.10, ∗∗ p < 0.05, ∗∗∗ p < 0.01 43
- Page 1 and 2: Smoke Gets in Your Eyes: Cigarette
- Page 3 and 4: cigarette’s posted price, and a s
- Page 5 and 6: form BCi : (p +tp +tr)xi + yi ≤ M
- Page 7 and 8: tax types: R(tp,tr) = (tp +tr)(xA +
- Page 9 and 10: ∂yB = −x. ∂tr Substituting th
- Page 11 and 12: consumers. An implication of the re
- Page 13 and 14: Data on state-level cigarette excis
- Page 15 and 16: variable (y) represents cigarette d
- Page 17 and 18: and is not statistically significan
- Page 19 and 20: Table IV presents our results. Colu
- Page 21 and 22: D. Tax Base Differences Between the
- Page 23 and 24: more by income in non-exempt states
- Page 25 and 26: with the variable assigned a value
- Page 27 and 28: to cigarette register taxes decline
- Page 29 and 30: References [1] Becker, Gary, Michae
- Page 31 and 32: Appendix A: Welfare Analysis Under
- Page 33 and 34: Again, the first term represents a
- Page 35 and 36: Appendix C: A Cognitive Cost Model
- Page 37 and 38: income yields: ∂Gi ∂Mi = 1 2 t2
- Page 39 and 40: Table I: Summary of Cigarette Tax C
- Page 41: Table III: Effect of Taxes on Cigar
- Page 45 and 46: Table VII: Sales Tax Exemptions for
- Page 47 and 48: Table IX: Instrumenting for Price w
- Page 49 and 50: Table XI: Alternative Demand Models
- Page 51 and 52: Table XIII: State Trends Extensive
- Page 53 and 54: Figure II: Aggregate Cigarette Cons
Table V: Effect of Taxes on Cigarette Demand by Income - Overall Effect<br />
(1) (2) (3)<br />
Excise Tax -4.802 ∗∗∗ -4.207 ∗∗∗ -3.843 ∗∗∗<br />
(0.597) (0.600) (0.599)<br />
Sales Tax -6.185 ∗∗∗ -1.445 -1.411<br />
(2.477) (2.598) (2.595)<br />
Excise*Low-income 2.360 ∗∗∗ 2.346 ∗∗∗ 0.789<br />
(0.664) (0.664) (0.666)<br />
Sales*Low-income -10.094 ∗∗∗ -10.062 ∗∗∗ -10.496 ∗∗∗<br />
(2.847) (2.848) (2.856)<br />
Income -2.367 -2.368 -1.642<br />
(0.093) (0.093) (0.162)<br />
Income Trend -0.089<br />
(0.013)<br />
Economic Conditions x x<br />
Income Trend x<br />
F-st<strong>at</strong> 15.32 15.20 12.58<br />
prob>F 0.00 0.00 0.00<br />
N 934,106 934,106 934,106<br />
Standard errors clustered <strong>at</strong> the st<strong>at</strong>e level in parentheses.<br />
All specific<strong>at</strong>ions include individual demographic characteristics and<br />
st<strong>at</strong>e, year, and calendar month fixed effects.<br />
The F-st<strong>at</strong> is associ<strong>at</strong>ed with the test for equality between the<br />
excise*low-income and sales*low-income interaction coefficients.<br />
∗ p < 0.10, ∗∗ p < 0.05, ∗∗∗ p < 0.01<br />
43
Change language