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The Income and Consumption Effects of Covid-19 and the Role of Public Policy

Suphanit Piyapromdee and Peter Spittal

Bristol Economics Discussion Papers from School of Economics, University of Bristol, UK

Abstract: We provide empirical evidence on the labour market impacts of covid-19 in the UK and assess the effectiveness of mitigation policies. We estimate the relationship between employment outcomes and occupational and industrial characteristics and assess the effects on consumption. 70 percent of households in the bottom fifth of the income distribution must cut consumption within one week. Finally, we compare the effectiveness the UK’s Coronavirus Job Retention Scheme to Economic Impact Payments in the US. The EIPs are more effective at mitigating consumption reductions as they have full coverage, depend on household structure and are higher for low-income workers.

Date: 2020-08-06
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Citations: View citations in EconPapers (17)

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Journal Article: The Income and Consumption Effects of COVID‐19 and the Role of Public Policy (2020) Downloads
Working Paper: The Income and Consumption Effects of Covid-19 and the Role of Public Policy (2020) Downloads
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