Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/245713 
Year of Publication: 
2021
Series/Report no.: 
IZA Discussion Papers No. 14662
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
This study measures the extent to which Seoul's COVID-19 shopping coupon program affects individuals' consumption. Unlike other COVID-19-related transfer programs, the Seoul Metropolitan government provides consumption coupons depending on income. We quantify the causal effect of Seoul's program by comparing eligible and ineligible groups using a difference-in-differences method. We find that the program increased consumption by 18% while it was ongoing and by 6% afterward. We find substantial heterogeneity in the treatment effects concerning recipients' income and consumption categories.
Subjects: 
COVID-19
stimulus payment
consumption
JEL: 
H2
H6
D3
D6
L1
Document Type: 
Working Paper

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