{
  "title": "Show Me the Money: Tracking Consumer Spending with Daily Card Transaction Data During the Pandemic",
  "publication": "IMF Working Papers, December 2, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2022/12/02/show-me-the-money-tracking-consumer-spending-with-daily-card-transaction-data-during-the-526278",
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  "summary": "The COVID-19 pandemic has been an unprecedented shock to economic activity with abrupt and unexpected changes in household consumption behavior.",
  "sections": [
    {
      "heading": "Research question and scope",
      "content": "- Investigates how the spread of the COVID-19 pandemic and government interventions affected consumer spending using daily card transaction data in the Baltics.\n- Geographic focus: Baltics (Estonia, Latvia, Lithuania).\n- Data and document details:\n  - Author: Serhan Cevik\n  - Date: December 2, 2022\n  - Pages: 16\n  - Volume: 2022\n  - Issue: 235\n  - Series: Working Paper No. 2022/235\n  - DOI: https://doi.org/10.5089/9798400226915.001\n  - Stock No: WPIEA2022235\n  - ISBN: 9798400226915\n  - ISSN: 1018-5941"
    },
    {
      "heading": "Key findings",
      "content": "- Overall effects on card transactions:\n  - The number of new COVID-19 infections or deaths has a strongly negative effect on consumer spending measured by debit and credit card transactions.\n  - Public health measures designed to contain the spread of the pandemic have a negative effect on consumer spending.\n  - Economic support measures designed to assist businesses and households have a stimulative effect on consumer spending.\n- Heterogeneity across spending categories:\n  - The drop in spending is mostly concentrated in sectors that are restricted by lockdowns and where the risk of infection is higher.\n  - The stimulative impact of government interventions appears to be more pronounced on goods than on services."
    },
    {
      "heading": "Policy implications and interpretation",
      "content": "- Public health containment measures reduce consumer spending, underscoring a trade-off between infection control and near-term economic activity.\n- Economic support measures can partially offset negative spending effects, with stronger impacts on goods consumption than on services.\n- Targeting support to sectors restricted by lockdowns and high-infection-risk activities may be important to stabilize consumption patterns."
    },
    {
      "heading": "Subject tags and keywords (as provided)",
      "content": "- Subject: Consumer credit, Consumption, COVID-19, Health, Household consumption, Money, National accounts\n- Keywords: Baltics, card transactions, Consumer credit, consumer spending, consumer spending pattern, Consumption, COVID-19, credit card transaction data, credit card transactions, Estonia, euro area, government intervention, Household consumption, household consumption behavior, Latvia, Lithuania, Pandemic, stimulating consumer spending, transition economies\n\nIMF Working Paper No. 2022/235 by Serhan Cevik (December 2, 2022).\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2022/12/02/show-me-the-money-tracking-consumer-spending-with-daily-card-transaction-data-during-the-526278"
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    "Authors: Serhan Cevik",
    "Published: December 2, 2022",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400226915.001",
    "Investigates how the spread of the COVID-19 pandemic and government interventions affected consumer spending using daily card transaction data in the Baltics.",
    "Geographic focus: Baltics (Estonia, Latvia, Lithuania).",
    "Data and document details:",
    "Overall effects on card transactions:",
    "Heterogeneity across spending categories:",
    "Public health containment measures reduce consumer spending, underscoring a trade-off between infection control and near-term economic activity.",
    "Economic support measures can partially offset negative spending effects, with stronger impacts on goods consumption than on services.",
    "Targeting support to sectors restricted by lockdowns and high-infection-risk activities may be important to stabilize consumption patterns.",
    "Subject: Consumer credit, Consumption, COVID-19, Health, Household consumption, Money, National accounts",
    "Keywords: Baltics, card transactions, Consumer credit, consumer spending, consumer spending pattern, Consumption, COVID-19, credit card transaction data, credit card transactions, Estonia, euro area, government intervention, Household consumption, household consumption behavior, Latvia, Lithuania, Pandemic, stimulating consumer spending, transition economies",
    "**Working Paper**"
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