Bounie David, Camara Youssouf, Galbraith John W
i3, CNRS, Télécom Paris, Institut Polytechnique de Paris, France.
Department of Economics, McGill University; CIREQ, CIRANO, Canada.
Eur Econ Rev. 2023 Jan;151:104326. doi: 10.1016/j.euroecorev.2022.104326. Epub 2022 Oct 30.
This paper investigates the effects of the pandemic containment periods in France on individuals' movements, expenditure and adaptation to the shock, using billions of French bank card transactions measured before and during the COVID-19 pandemic. We measure not only the effect on consumer expenditure, but also on quantities directly related to the containment restrictions, such as consumer mobility, number of retailers visited, and inter-regional purchases. The results show large effects on these measures of consumers' movements, as well as on both online and offline measures of expenditure, particularly in the first containment period. We also find evidence that consumers adjusted rapidly during the first containment period, mitigating the effects of mobility restrictions via an increasing shift toward online purchasing, and that the nature of the adaptation differed for different types of purchase.
本文利用新冠疫情之前及期间数十亿笔法国银行卡交易数据，研究法国疫情管控期对个人出行、支出以及对冲击的适应情况的影响。我们不仅衡量了对消费者支出的影响，还衡量了对与管控限制直接相关的量的影响，比如消费者流动性、光顾的零售商数量以及跨地区购买量。结果表明，这些消费者出行指标以及线上和线下支出指标均受到了很大影响，尤其是在首个管控期。我们还发现，有证据表明消费者在首个管控期迅速做出了调整，通过增加向线上购物的转变来减轻出行限制的影响，而且不同类型购买的适应性质有所不同。
