Household spending responses to two-time COVID-19 payments

IF 1.3 4区经济学 Q3 ECONOMICS

Japan and the World Economy Pub Date : 2024-10-01 DOI:10.1016/j.japwor.2024.101282

Kozo Ueda

引用次数: 0

Abstract

During the COVID-19 pandemic, the Japanese government provided special cash payments (SCPs) multiple times. This study aims to estimate the marginal propensity to spend, a proxy for the marginal propensity to consume (MPC), to these income shocks using detailed bank transaction data. Our findings indicate that the MPC is stable at around 0.2 for both the first wave of SCPs launched in mid-2020 and the second wave of SCPs provided from the end of 2021 to the beginning of 2022. The MPC tends to increase as individuals become less wealthy, more liquidity constrained, or the number of family members is larger.

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家庭支出对两次 COVID-19 付款的反应

在 COVID-19 大流行期间，日本政府多次提供特别现金支付（SCP）。本研究旨在利用详细的银行交易数据估算这些收入冲击的边际消费倾向，即边际消费倾向（MPC）的替代值。我们的研究结果表明，无论是 2020 年年中推出的第一波小额信贷支持计划，还是 2021 年底至 2022 年初推出的第二波小额信贷支持计划，边际消费倾向都稳定在 0.2 左右。随着个人财富越少、流动性越紧张或家庭成员越多，MPC 趋于增加。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Japan and the World Economy ECONOMICS-

CiteScore

2.60

自引率

0.00%

发文量

审稿时长

46 days

期刊介绍： The increase in Japan share of international trade and financial transactions has had a major impact on the world economy in general and on the U.S. economy in particular. The new economic interdependence between Japan and its trading partners created a variety of problems and so raised many issues that require further study. Japan and the World Economy will publish original research in economics, finance, managerial sciences, and marketing that express these concerns.