Guangxi University of Finance and Economics, Nanning, China.
Front Public Health. 2020 Nov 24;8:615344. doi: 10.3389/fpubh.2020.615344. eCollection 2020.
The COVID-19 pandemic has affected various macroeconomic indicators. Given this backdrop, this research investigates the effects of the pandemics-related uncertainty on household consumption. For this purpose, we construct a simple theoretical model to study the effects of the pandemics-related uncertainty on household consumption. To estimate the theoretical model, we consider the panel dataset of 138 countries for the period from 1996 to 2017. We also use the Pandemic Uncertainty Index to measure the pandemics-related uncertainty. The theoretical model and the empirical findings from the Feasible Generalized Least Squares (FGLS) estimations indicate that the gross fixed capital formation, government consumption, balance of trade, and the Pandemic Uncertainty Index negatively affect household consumption. The results are also valid in the panel dataset of 42 high-income economies and the remaining 96 emerging economies.
新冠疫情对各种宏观经济指标产生了影响。有鉴于此，本研究探讨了疫情相关不确定性对家庭消费的影响。为此，我们构建了一个简单的理论模型来研究疫情相关不确定性对家庭消费的影响。为了估计理论模型，我们考虑了 1996 年至 2017 年期间来自 138 个国家的面板数据集。我们还使用疫情不确定性指数来衡量疫情相关的不确定性。理论模型和可行广义最小二乘法（FGLS）估计的实证结果表明，总固定资本形成、政府消费、贸易余额和疫情不确定性指数对家庭消费产生负面影响。这些结果在 42 个高收入经济体和其余 96 个新兴经济体的面板数据集中也是有效的。
