Piyapromdee, S;
Spittal, P;
(2020)
The Income and Consumption Effects of COVID‐19 and the Role of Public Policy*.
Fiscal Studies
, 41
(4)
pp. 805-827.
10.1111/1475-5890.12252.
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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. Seventy per cent of households in the bottom fifth of the earnings distribution hold insufficient assets to maintain current spending for more than one week. We compare the effectiveness of the UK's Coronavirus Job Retention Scheme and of 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.
| Type: | Article |
|---|---|
| Title: | The Income and Consumption Effects of COVID‐19 and the Role of Public Policy* |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1111/1475-5890.12252 |
| Publisher version: | https://doi.org/10.1111/1475-5890.12252 |
| Language: | English |
| Additional information: | © 2020 The Authors. Fiscal Studies published by John Wiley & Sons Ltd. on behalf of Institute for Fiscal Studies This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made. |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery-pp.ucl.ac.uk/id/eprint/10138830 |
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