Consumption Response to Seoul’s COVID-19 Shopping Coupons: Evidence from Consumer Data (Covid-19 Special Issue)

Seokjin Woo, Sangmin Aum, Dohyung Kim, Heyjin Moon and Soohyung Lee
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Seokjin Woo: Myongji University
Dohyung Kim: Myongji University
Heyjin Moon: Seoul Welfare Foundation
Soohyung Lee: Seoul National University

Korean Economic Review, 2022, vol. 38, 231-250

Abstract: This study measures the extent to which Seoul’s COVID-19 shopping coupon program affects individuals’ consumption. Unlike other COVID-19-related transfer programs, the Seoul Metropolitan government provides consumption coupons depending on income. We quantify the causal effect of Seoul’s program by comparing eligible and ineligible groups using a difference-in-differences method. We find that the program increased consumption by 18% while it was ongoing and by 6% afterward. We find substantial heterogeneity in the treatment effects concerning recipients’ income and consumption categories.

Keywords: COVID-19; Stimulus Payment; Consumption (search for similar items in EconPapers)
JEL-codes: D3 D6 H2 H6 L1 (search for similar items in EconPapers)
Date: 2022
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