G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w28935
来源IDWorking Paper 28935
Explaining the Income and Consumption Effects of COVID in India
Arpit Gupta; Anup Malani; Bartek Woda
发表日期2021-06-21
出版年2021
语种英语
摘要The COVID-19 pandemic led to stark reductions in economic activity in India. We employ CMIE's Consumer Pyramids Household Survey to examine the timing, distribution, and mechanism of the impacts from this shock on income and consumption through December 2020. First, we estimate large and heterogeneous drops in income, with ambiguous effects on inequality. While incomes of salaried workers fell 35%; incomes of daily laborers fell 75%. At the same time, we observe that income fell more for individuals from households in the highest income quartile. Second, we document an increase in effort to buffer income shocks by switching occupations. We employ a Roy Model to estimate the gains from occupation churn and find, surprisingly, that reservation wages fell, implying that the risk of COVID did not reduce the value of employment. Third, we find that consumption fell less than income, suggesting households were able to smooth the idiosyncratic components of the COVID shock as well as they did before COVID. Finally, consumption of food and fuel fell less than consumption of durables such as clothing and appliances. Following Costa (2001) and Hamilton (2001), we estimate Engel curves and find that changes in consumption reflect large price shocks (rather than a retreat to subsistence) in sectors other than food and fuel/power. In the food sector, it appear that lockdown successfully distinguished essential and non-essential services, at least to the extent that it did not increase the relative price of food. There is some suggestive evidence that the price shocks outside the food sector were larger in places with greater COVID-19 cases, even during the lockdown.
主题Macroeconomics ; Consumption and Investment ; Development and Growth ; Development ; Country Studies ; COVID-19
URLhttps://www.nber.org/papers/w28935
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/586609
推荐引用方式
GB/T 7714
Arpit Gupta,Anup Malani,Bartek Woda. Explaining the Income and Consumption Effects of COVID in India. 2021.
条目包含的文件
文件名称/大小 资源类型 版本类型 开放类型 使用许可
w28935.pdf(1674KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Arpit Gupta]的文章
[Anup Malani]的文章
[Bartek Woda]的文章
百度学术
百度学术中相似的文章
[Arpit Gupta]的文章
[Anup Malani]的文章
[Bartek Woda]的文章
必应学术
必应学术中相似的文章
[Arpit Gupta]的文章
[Anup Malani]的文章
[Bartek Woda]的文章
相关权益政策
暂无数据
收藏/分享
文件名: w28935.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。