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Applied Economics Letters Volume 30, 2023 - Issue 12
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Research Article

Spending behavior and stimulus transfer use in response to income shocks among older Americans: evidence from the COVID-19 pandemic

Muna SharmaDepartment of Financial Planning, Housing and Consumer Economics, University of Georgia, Athens, GA, USACorrespondence[email protected]
&
Patryk BabiarzDepartment of Financial Planning, Housing and Consumer Economics, University of Georgia, Athens, GA, USAORCID Iconhttps://orcid.org/0000-0003-2506-381X
ORCID Icon
Pages 1680-1684 | Published online: 24 May 2022

References

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  • Baker, S. R., R. A. Farrokhnia, S. Meyer, M. Pagel, and C. Yannelis. 2020. Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments. Cambridge, MA: National Bureau of Economic Research. Working Paper No. 27097. https://doi.org/10.3386/w27097
  • Bryant, W. K., and C. D. Zick. 2005. “Consumption and Saving.” In The Economic Organization of the Household, 85–124. Cambridge University Press. doi:10.1017/CBO9780511754395.005.
  • Bureau of Labor Statistics. 2020. “Unemployment Rate Rises to Record High 14.7 Percent in April 2020.” The Economics Daily, https://www.bls.gov/opub/ted/2020/unemployment-rate-rises-to-record-high-14-point-7-percent-in-april-2020.htm
  • Carroll, C., J. Slacalek, K. Tokuoka, and M. N. White. 2017. “The Distribution of Wealth and the Marginal Propensity to Consume.” Quantitative Economics 8 (3): 977–1020. doi:10.3982/QE694.
  • Chetty, R., J. N. Friedman, N. Hendren, and M. Stepner, The Opportunity Insights Team. 2020. How Did COVID-19 and Stabilization Policies Affect Spending and Employment? A New real-time Economic Tracker Based on Private Sector Data. Cambridge, MA: National Bureau of Economic Research. Working Paper No. 27431. https://doi.org/10.3386/w27431
  • Christelis, D., D. Georgarakos, T. Jappelli, L. Pistaferri, and M. Van Rooij. 2019. “Asymmetric Consumption Effects of Transitory Income Shocks.” Economic Journal 129 (622): 2322–2341. doi:10.1093/ej/uez013.
  • Collins, C., L. C. Landivar, L. Ruppanner, and W. J. Scarborough. 2021. “COVID‐19 and the Gender Gap in Work Hours.” Gender, Work, and Organization 28 (S1): 101–112. doi:10.1111/gwao.12506.
  • Cox, N., P. Ganong, P. Noel, J. Vavra, A. Wong, D. Farrell, E. Deadman, and E. Deadman. 2020. “Initial Impacts of the Pandemic on Consumer Behavior: Evidence from Linked Income, Spending, and Savings Data.” Brookings Papers on Economic Activity 2 (2): 35–82. doi:10.1353/eca.2020.0006.
  • Wärneryd, K. 1999. “The Psychology of Saving in Modern Economic Theories of Saving.” In The Psychology of Saving: A Study on Economic Psychology, 120–165. Cheltenham, UK: Edward Elgar Publishing Limited.

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