Consumption Response to Seoul's COVID-19 Shopping Coupons: Evidence from Consumer Data

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

No 14662, IZA Discussion Papers from Institute of Labor Economics (IZA)

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)
Pages: 28 pages
Date: 2021-08
New Economics Papers: this item is included in nep-isf
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Citations: View citations in EconPapers (1)

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