The Impact of the Covid Pandemic Public Policies in Chile on Consumption.
Using survey data, I simulate the counterfactual impact of the Chilean policies during the pandemic on household consumption. I find that aggregate consumption would have fallen by 16.7 percent in the absence of public transfers and a quarantine flexibilization policy. Consumption would still fall b...
| Publicado en: | Economía Vol. 22; no. 1; pp. 71 - 96 |
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| Autor principal: | |
| Formato: | Artículo |
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London School of Economics & Political Science
2023
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=169987558&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 169987558 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 15297470 N8H jtl: Economía issn: 15297470 maglogo: N pubinfo: dt: 2023 vid: 22 iid: 1 pid: 66142 pub: London School of Economics & Political Science artinfo: ui: 169987558 10.31389/eco.6 ppf: 71 ppct: 25 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1.6MB tig: atl: The Impact of the Covid Pandemic Public Policies in Chile on Consumption. aug: au: Madeira, Carlos affil: Central Bank of Chile, Agustinas 1180, Santiago, Chile su: Chile COVID-19 pandemic Government policy Consumption (Economics) Income Monetary policy sug: subj: COVID-19 pandemic Government policy Consumption (Economics) Income Chile Monetary policy keyword: consumption Covid credit inequality public finance consumption Covid credit inequality public finance ab: Using survey data, I simulate the counterfactual impact of the Chilean policies during the pandemic on household consumption. I find that aggregate consumption would have fallen by 16.7 percent in the absence of public transfers and a quarantine flexibilization policy. Consumption would still fall by 10.2 percent with a quarantine flexibilization policy but without public transfers. Overall, with a quarantine flexibilization and all the public transfers combined, household consumption was still 6.2 percent below its pre-pandemic period. Relative to a scenario with quarantine flexibilization but without income transfers, I find that the income, tax, monetary policy, expenses measures were the most progressive policies and increased total consumption by 2.2 percent, while the debt deferral and pension withdrawals increased consumption by 0.7 percent and 1.3 percent, respectively. The policies' impact is highly heterogeneous, with 21.5 percent of the households increasing their individual consumption relative to its pre-pandemic level. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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