Covid-19 restriction policies and shopping streets

Article Multidisciplinary Sciences

Impacts of COVID-19 lockdowns and stimulus payments on low-income population's spending in the United States

Kangli Li et al.

Summary: The study found that state lockdowns led to a decrease in daily average spending for the low-income population, while stimulus payments increased daily average spending. There was spatial heterogeneity, with Democratic areas experiencing more volatile dynamics and the Southwest region having the highest initial decline but Southeast showing the largest net gain after stimulus payments. Additionally, stimulus payments promoted spending in categories related to public health and charitable donations, but also led to increased spending in non-essential categories like liquor and cigars.

PLOS ONE (2021)

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Article Economics

Fear, lockdown, and diversion: Comparing drivers of pandemic economic decline 2020

Austan Goolsbee et al.

Summary: The economic collapse in 2020 due to COVID-19 was mainly driven by individual consumer choices rather than government-imposed restrictions. Consumers voluntarily reduced outings due to fear of infection, shifting towards smaller and less crowded stores. Legal shutdown orders accounted for only a small portion of the massive changes in consumer behavior, with individual choices playing a far more significant role.

JOURNAL OF PUBLIC ECONOMICS (2021)

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Article Multidisciplinary Sciences