The Macroeconomic Consequences of Stimulating Offline Consumption during COVID-19

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2021-01-02 DOI:10.1080/1226508X.2021.1875868

D. Kim, Minseung Kim, Myungkyu Shim

引用次数: 3

Abstract

ABSTRACT This paper analyses the macroeconomic consequences of a fiscal policy implemented in South Korea during COVID-19, ‘Korean Economic Impact Payment (KEIP)’ program, that aims to stimulate offline consumption. In doing so, we modify a SIR-macro model by explicitly distinguishing online- and offline consumption goods. Benchmark analysis predicts that (1) there are positive effects on key macro variables at the impact while progress of the epidemic hardly changes and (2) the transfer multiplier from the KEIP is estimated to be about 0.5 at the impact, a value with what we expect from the usual neo-classical business cycle model.

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COVID-19期间刺激线下消费的宏观经济后果

本文分析了韩国在2019冠状病毒病期间实施的财政政策“韩国经济影响支付”(Korea Economic Impact Payment, KEIP)计划的宏观经济后果，该计划旨在刺激线下消费。在此过程中，我们通过明确区分线上和线下消费品来修改sir宏观模型。基准分析预测:(1)在疫情进程几乎没有变化的情况下，疫情对关键宏观变量产生了积极影响;(2)在疫情发生时，KEIP的转移乘数估计约为0.5，这个值与通常的新古典经济周期模型的预期值一致。

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

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.