Tracking the COVID-19 crisis with high-resolution transaction data.
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Authors
Garcia, Juan R
Ortiz, Álvaro
Rodrigo, Tomasa
Rodríguez Mora, José V
Ruiz, Pep
Publication Date
2021-08Journal Title
R Soc Open Sci
ISSN
2054-5703
Publisher
The Royal Society
Volume
8
Issue
8
Pages
210218
Language
eng
Type
Article
This Version
VoR
Physical Medium
Electronic-eCollection
Metadata
Show full item recordCitation
Carvalho, V. M., Garcia, J. R., Hansen, S., Ortiz, Á., Rodrigo, T., Rodríguez Mora, J. V., & Ruiz, P. (2021). Tracking the COVID-19 crisis with high-resolution transaction data.. R Soc Open Sci, 8 (8), 210218. https://doi.org/10.1098/rsos.210218
Abstract
Payments systems generate vast amounts of naturally occurring transaction data rarely used for constructing official statistics. We consider billions of transactions from card data from a large bank, Banco Bilbao Vizcaya Argentaria, as an alternative source of information for measuring consumption. We show, via validation against official consumption measures, that transaction data complements national accounts and consumption surveys. We then analyse the impact of COVID-19 in Spain, and document: (i) strong consumption responses to business closures, but smaller effects for capacity restrictions; (ii) a steeper decline in spending in rich neighbourhoods; (iii) higher mobility for residents of lower-income neighbourhoods, correlating with increased disease incidence.
Sponsorship
European Commission Horizon 2020 (H2020) ERC (101001221)
Economic and Social Research Council (ES/R009295/1)
Identifiers
External DOI: https://doi.org/10.1098/rsos.210218
This record's URL: https://www.repository.cam.ac.uk/handle/1810/329593
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