The effect of COVID-19 lockdown and the subsequent reopening on consumption in Iran

We use country-wide data on all electronic payments in point-of-sale (POS) and online terminals of Iran to study the change in the pattern of consumption and online-offline substitution during the COVID-19 lockdown and after the relaxation of restrictions in May and June. Using a difference-in-diffe...

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Detalles Bibliográficos
Autores principales: Hoseini, Mohammad, Valizadeh, Abolmohsen
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer US 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7934988/
https://www.ncbi.nlm.nih.gov/pubmed/33716596
http://dx.doi.org/10.1007/s11150-021-09557-8
Descripción
Sumario:We use country-wide data on all electronic payments in point-of-sale (POS) and online terminals of Iran to study the change in the pattern of consumption and online-offline substitution during the COVID-19 lockdown and after the relaxation of restrictions in May and June. Using a difference-in-difference approach, we find that during the strictest lockdown month, growth in value of transactions dropped by 41% compared to the benchmark month before the pandemic. After lifting the lockdown, the growth rose by 12% above the benchmark month. We also find that the COVID-19 pandemic led to a spike in online transactions of activities with online terminals and has had a persistent effect on consumer preference for online shopping even after the reopening of the economy.

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