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Cited by 377

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The Impact of the COVID-19 Pandemic on Consumption: Learning from High-Frequency Transaction Data

Open access
Chen, Haiqiang, Qian, Wenlan, Wen, Qiang·2021·AEA Papers and Proceedings

Abstract

We use daily transaction data in 214 cities to study the impact of COVID-19 on consumption after China's outbreak in late January 2020. Based on difference-in-difference estimation, daily offline consumption--via bank card and mobile Quick Response code transactions--fell by 32 percent, or 18.57 million renminbi (RMB) per city, during the 12-week period. The effect is prevalent across cities and is more pronounced in the dining-and-entertainment and travel categories. We infer that China's offline consumption decreased by over 1.22 trillion RMB, or 1.2 percent of China's 2019 GDP, in the 3-month postoutbreak period.

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Metadata

Authors
Chen, H., Qian, W., & Wen, Q.
Venue
AEA Papers and Proceedings
Published
2021-05-01
Volume
111
Pages
307-311
ISSN
  • 2574-0768 (ISSN-L)
  • 2574-0776
OpenAlex
W3162297205
Cited by
377
References
6
FWCI
52.82
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: The Impact of the COVID-19 Pandemic on Consumption: Learning from High-Frequency Transaction Data. https://app.cochat.ai/papers/10.1257/pandp.20211003
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Chen, H., Qian, W., & Wen, Q. (2021). The Impact of the COVID-19 Pandemic on Consumption: Learning from High-Frequency Transaction Data. AEA Papers and Proceedings. https://doi.org/10.1257/pandp.20211003

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