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The heterogeneous and regressive consequences of COVID-19: Evidence from high quality panel data()

Using new data from the first two waves of the Understanding Society COVID-19 Study collected in April and in May 2020 in the UK, we study the labour market shocks that individuals experienced in the first wave of the pandemic, and the steps they and their households took to cope with those shocks....

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Detalles Bibliográficos
Autores principales: Crossley, Thomas F., Fisher, Paul, Low, Hamish
Formato: Online Artículo Texto
Lenguaje:English
Publicado: The Authors. Published by Elsevier B.V. 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7666552/
https://www.ncbi.nlm.nih.gov/pubmed/33223577
http://dx.doi.org/10.1016/j.jpubeco.2020.104334
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author Crossley, Thomas F.
Fisher, Paul
Low, Hamish
author_facet Crossley, Thomas F.
Fisher, Paul
Low, Hamish
author_sort Crossley, Thomas F.
collection PubMed
description Using new data from the first two waves of the Understanding Society COVID-19 Study collected in April and in May 2020 in the UK, we study the labour market shocks that individuals experienced in the first wave of the pandemic, and the steps they and their households took to cope with those shocks. Understanding Society is based on probability samples and the Covid-19 Study is constructed carefully to support valid population inferences. The Covid-19 Study collected novel data on the mitigation strategies that individuals and households employ. Further, prior observation of respondents in the panel allows us to characterize regressivity with respect to pre-pandemic economic positions. Our key findings are that those with precarious employment, aged under 30 and from minority ethnic groups faced the biggest labour market shocks. Almost 50% of individuals have experienced declines in household earnings of at least 10%, but declines are most severe in the bottom pre-pandemic income quintiles. Methods of mitigation vary substantially across groups: borrowing and transfers from family and friends are most prevalent among those most in need.
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spelling pubmed-76665522020-11-16 The heterogeneous and regressive consequences of COVID-19: Evidence from high quality panel data() Crossley, Thomas F. Fisher, Paul Low, Hamish J Public Econ Article Using new data from the first two waves of the Understanding Society COVID-19 Study collected in April and in May 2020 in the UK, we study the labour market shocks that individuals experienced in the first wave of the pandemic, and the steps they and their households took to cope with those shocks. Understanding Society is based on probability samples and the Covid-19 Study is constructed carefully to support valid population inferences. The Covid-19 Study collected novel data on the mitigation strategies that individuals and households employ. Further, prior observation of respondents in the panel allows us to characterize regressivity with respect to pre-pandemic economic positions. Our key findings are that those with precarious employment, aged under 30 and from minority ethnic groups faced the biggest labour market shocks. Almost 50% of individuals have experienced declines in household earnings of at least 10%, but declines are most severe in the bottom pre-pandemic income quintiles. Methods of mitigation vary substantially across groups: borrowing and transfers from family and friends are most prevalent among those most in need. The Authors. Published by Elsevier B.V. 2021-01 2020-11-14 /pmc/articles/PMC7666552/ /pubmed/33223577 http://dx.doi.org/10.1016/j.jpubeco.2020.104334 Text en © 2020 The Authors Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Crossley, Thomas F.
Fisher, Paul
Low, Hamish
The heterogeneous and regressive consequences of COVID-19: Evidence from high quality panel data()
title The heterogeneous and regressive consequences of COVID-19: Evidence from high quality panel data()
title_full The heterogeneous and regressive consequences of COVID-19: Evidence from high quality panel data()
title_fullStr The heterogeneous and regressive consequences of COVID-19: Evidence from high quality panel data()
title_full_unstemmed The heterogeneous and regressive consequences of COVID-19: Evidence from high quality panel data()
title_short The heterogeneous and regressive consequences of COVID-19: Evidence from high quality panel data()
title_sort heterogeneous and regressive consequences of covid-19: evidence from high quality panel data()
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7666552/
https://www.ncbi.nlm.nih.gov/pubmed/33223577
http://dx.doi.org/10.1016/j.jpubeco.2020.104334
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