https://www.stlouisfed.org/on-the-economy/2023/aug/decomposing-economic-impact-… Created Thu, 17/08/2023 - 19:30 Updated Thu, 17/08/2023 - 19:30 An analysis of cost-of-living increases for Social Security shows a strong direct effect on income within a state where the recipient lives but little evidence of a spillover effect in other states.