Distributional effects of COVID-19 on spending: A first look at the evidence from Spain
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- dc.contributor.author Garcia Montalvo, José
- dc.contributor.author Reynal-Querol, Marta
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2024-11-14T10:09:37Z
- dc.date.available 2024-11-14T10:09:37Z
- dc.date.issued 2020-09-01
- dc.date.modified 2024-11-14T10:07:14Z
- dc.description.abstract We use data from a a large Spanish personal finance management fintech to have a first look at the heterogeneous effects of the COVID-19 on spending. We show a large reduction on spending since mid-March, coinciding with the shutdown of the economy and the strict confinement of population. Since the end of April the is a recovery of spending although, by the end of June, it is still 20% below the level of the previous year. Opposite to what has been observed in other countries, the recovery of spending is not more intense in low-income families than in their high-income counterparts. However, there is some evidence of differences in the intensity of rebound by age and account balance. This suggest differences in the intensity of government benefits for low-income families and financial difficulties for low-liquidity families.
- dc.format.mimetype application/pdf*
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1740
- dc.identifier.citation
- dc.identifier.uri http://hdl.handle.net/10230/68563
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1740
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword spending
- dc.subject.keyword income
- dc.subject.keyword liquidity
- dc.subject.keyword covid-19
- dc.subject.keyword administrative data
- dc.subject.keyword high frequency
- dc.subject.keyword Statistics, Econometrics and Quantitative Methods
- dc.title Distributional effects of COVID-19 on spending: A first look at the evidence from Spain
- dc.title.alternative
- dc.type info:eu-repo/semantics/workingPaper