ArticleThe Canadian journal of economics. Revue canadienne d'economique2022
The heterogeneous effects of COVID-19 on Canadian household consumption, debt and savings.
Article in The Canadian journal of economics. Revue canadienne d'economique, 2022. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 2 papers.
What it found
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
The trial behind it
Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.
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Who cites it
2 citing papers in PubMed, 16 citations in OpenAlex.
- Investigating the early impacts of the COVID-19 pandemic on modifiable risk factors for cancer and chronic disease: a repeated cross-sectional study in Alberta, Canada.Canadian journal of public health = Revue canadienne de sante publique · 2022Article
- Food Insecurity amid the COVID-19 Pandemic: Food Charity, Government Assistance, and Employment.Canadian public policy. Analyse de politiques · 2021Article
Corrections and comments
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Authors and funding
3 authors at 1 institution in 1 country.
Funding
No grant is acknowledged in the PubMed record.
Abstract
This paper develops an agent-based model to quantify the impact of COVID-19 on household debt and savings. To build a representative cross-section of households that vary by income, debt portfolios and consumption baskets, we merge data from the Survey of Household Spending and the Survey of Financial Security. We construct paths for consumption and employment over the crisis, accounting for heterogeneous risk of unemployment across demographics, government transfers, and substitution between expenditure categories that vary in contact intensity. Our model simulations yield a heterogeneous effect of COVID-19 across the income distribution. Low-income households face the highest risk of unemployment, but transfers provide generous income replacement. Middle-income job losers see the fastest rise in debt because transfers only partially replace lost income. Most unplanned savings are accumulated by high-income households that face lower risk of unemployment and larger declines in hard-to-distance spending. We find the rise in savings could generate a brief jump of nearly 6% of monthly consumption.
Identifiers
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Registered trials
Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.