COVID-19 economic policy effects on consumer spending and foot traffic in the U.S.
COVID-19 economic policy effects on consumer spending and foot traffic in the U.S.
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DOI：
10.1016/j.jnlssr.2021.09.003
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发表时间：
2021-10-05
影响因子：
--
通讯作者：
Martell M
中科院分区：
文献类型：
--
作者：
Yang Z;Choe Y;Martell M
为应对COVID-19疫情期间的经济挑战，美国政府实施多项措施以减轻经济损失。从发放刺激支票到重新开业，消费者不得不根据政府政策不断改变自己的行为。使用匿名卡交易和基于移动的设备的位置跟踪数据，我们分析了这些行为变化的因素，重点是刺激检查的发行和全州范围内的重新开放。我们的发现表明，刺激性支出对刺激支出有显著的直接影响，但通常不会扭转下降趋势。全州范围内的重新开放对支出的影响很小。在发放刺激支票后，客流量逐渐增加，但在重新开放后仅略有增加，这也与几次政策变化和混淆事件（例如，抗议）在美国。我们还发现美国不同地区对这些政策的反应存在差异。我们的研究结果可用于为未来的经济复苏政策及其潜在的消费者反应提供信息。
To battle with economic challenges during the COVID-19 pandemic, the US government implemented various measures to mitigate economic loss. From issuance of stimulus checks to reopening businesses, consumers had to constantly alter their behavior in response to government policies. Using anonymized card transactions and mobile device-based location tracking data, we analyze the factors that contribute to these behavior changes, focusing on stimulus check issuance and state-wide reopening. Our finding suggests that stimulus payment has a significant immediate effect of boosting spending, but it typically does not reverse a downward trend. State-wide reopening had a small effect on spending. Foot traffic increased gradually after stimulus check issuance, but only increased slightly after reopening, which also coincided or preceded several policy changes and confounding events (e.g., protests) in the US. We also find differences in the reaction to these policies in different regions in the US. Our results may be used to inform future economic recovery policies and their potential consumer response.
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