Spending Behavior and Economic Impacts of Urban Digital Consumption Vouchers

This paper evaluates the Taipei Bear Vouchers 2.0 program using verified user-level survey data and a regional input-output model to assess the effectiveness of consumption vouchers as a fiscal stimulus tool. We focus on three key behavioral mechanisms: expenditure substitution, induced consumption, and the intensity of treatment through varying voucher face values. Our findings show that voucher effectiveness differs by type. Accommodation vouchers stimulate the most additional spending due to ...