COVID-19 Pandemic and Household Liquidity Constraints: Evidence from Micro Data

Jie Li, Quanyun Song, Changyan Peng and Yu Wu

Emerging Markets Finance and Trade, 2020, vol. 56, issue 15, 3626-3634

Abstract: This article provides an analysis of the impact of the pandemic on household liquidity constraints using the China Household Finance Survey (CHFS) data. We find that households’ liquidity constraints become serious after the outbreak of COVID-19. Households’ likelihood of liquidity constraints increases with the severity of the pandemic, mainly due to the COVID-19 pandemic shock to employment and household income. Meanwhile, the deterioration of households’ liquidity significantly increases their saving willingness and decreases their consumption.

Date: 2020
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DOI: 10.1080/1540496X.2020.1854721

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