The Effects of COVID-19 Policies on Consumer Spending in Norway

Fenella Carpena, Laurens Swinkels*, Dan Zhang

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

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We examine the effect of COVID-19 policies on consumer spending using bankcard transactions from Norway. Exploiting variation in COVID-19 policies over time and across space in the four largest municipalities, we investigate the heterogeneity of policy effects in their number and type. First, we document that the number of restrictions is negatively correlated with spending and exhibits decreasing marginal effects. Second, restrictions do not affect all types of spending equally: restrictions tend to have larger impacts on the sector in which they are targeted. Finally, we find suggestive evidence from a difference-in-differences estimation that supports a causal interpretation of our results.

Original languageEnglish
Pages (from-to)56-67
Number of pages12
JournalContemporary Economic Policy
Issue number1
Publication statusPublished - 1 Jan 2024

Bibliographical note

Publisher Copyright:
© 2023 The Authors. Contemporary Economic Policy published by Wiley Periodicals LLC on behalf of Western Economic Association International.


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