The Effects of COVID-19 Policies on Consumer Spending in Norway

Fenella Carpena, Laurens Swinkels and Dan Zhang
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Fenella Carpena: Oslo Business School, Oslo Metropolitan University
Dan Zhang: Oslo Business School, Oslo Metropolitan University

Working Papers from Oslo Metropolitan University, Oslo Business School

Abstract: This paper examines the effect of COVID-19 policies on consumer spending using bank card transaction data from Norway. Taking advantage of variation in COVID-19 policies over time and across space in the four largest municipalities in the country, we investigate the heterogeneity of effects of policies in their number and type. First, we document that the number of restrictions is negatively correlated with spending and exhibits decreasing marginal effects. Second, restrictions do not affect all types of spending equally: restrictions tend to have larger impacts on the sector in which it is targeted. Finally, we find evidence from a difference-in-differences estimation that supports a causal interpretation of our results.

Keywords: Expenditure; Consumption; COVID-19; pandemic (search for similar items in EconPapers)
JEL-codes: C83 D12 E21 (search for similar items in EconPapers)
Date: 2023-07-02
New Economics Papers: this item is included in nep-eur
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Journal Article: The effects of COVID‐19 policies on consumer spending in Norway (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:oml:wpaper:202302

DOI: 10.2139/ssrn.4497685

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