The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
How Does Household Spending Respond to an Epidemic? Consumption during the 2020 COVID-19 Pandemic
Open accessAbstract
Utilizing transaction-level financial data, we explore how household consumption responded to the onset of the COVID-19 pandemic. As case numbers grew and cities and states enacted shelter-in-place orders, Americans began to radically alter their typical spending across a number of major categories. In the first half of March 2020, individuals increased total spending by over 40% across a wide range of categories. This was followed by a decrease in overall spending of 25%–30% during the second half of March coinciding with the disease spreading, with only food delivery and grocery spending as major exceptions to the decline. Spending responded most strongly in states with active shelter-in-place orders, though individuals in all states had sizable responses. We find few differences across individuals with differing political beliefs, but households with children or low levels of liquidity saw the largest declines in spending during the latter part of March.
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Citations
Cites
The Consumption Response to Income Changes
Jappelli, T., & Pistaferri, L. (2010) · Annual Review of Economics · doi:10.1146/annurev.economics.050708.142933 · Cited by 704
Income Changes and Consumption: Evidence from the 2013 Federal Government Shutdown
Baker, S. R., & Yannelis, C. (2017) · Review of Economic Dynamics · doi:10.1016/j.red.2016.09.005 · Cited by 130
Self-citation
Cited by
Allcott, H., Boxell, L., Conway, J., Gentzkow, M., Thaler, M., & Yang, D. (2020) · Journal of Public Economics · doi:10.1016/j.jpubeco.2020.104254 · Cited by 999
A literature review of the economics of COVID-19
Brodeur, A., Gray, D., Islam, A., & Bhuiyan, S. (2021) · Journal of Economic Surveys · doi:10.1111/joes.12423 · Cited by 976
“Consumption pattern responses and debt responses from pandemic shocks had not been analyzed prior to COVID-19 (Baker et al., 2020).”
Grocery Shopping Preferences during the COVID-19 Pandemic
Grashuis, J., Skevas, T., & Segovia, M. S. (2020) · Sustainability · doi:10.3390/su12135369 · Cited by 389
Compensating for academic loss: Online learning and student performance during the COVID-19 pandemic
Clark, A. E., Nong, H., Zhu, H., & Zhu, R. (2021) · China Economic Review · doi:10.1016/j.chieco.2021.101629 · Cited by 271
Cecchetto, C., Aiello, M., Gentili, C., Ionta, S., & Osimo, S. A. (2021) · Appetite · doi:10.1016/j.appet.2021.105122 · Cited by 269
Metadata
- Authors
- Baker, S. R., Farrokhnia, R. A., Meyer, S., Pagel, M., & Yannelis, C.
- Venue
- The Review of Asset Pricing Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 2020-07-21
- Volume
- 10
- Issue
- 4
- Pages
- 834-862
- ISSN
- 2045-9920 (ISSN-L)
- 2045-9939
- OpenAlex
- W3015106070
- Cited by
- 754
- References
- 2
- FWCI
- 119.56
- Type
- journal article
- Language
- en
- Open access
- bronze
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- Baker, S. R., Farrokhnia, R. A., Meyer, S., Pagel, M., & Yannelis, C. (2020). How Does Household Spending Respond to an Epidemic? Consumption during the 2020 COVID-19 Pandemic. The Review of Asset Pricing Studies. https://doi.org/10.1093/rapstu/raaa009
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