Multidimensional economic deprivation during the coronavirus pandemic: Early evidence from the United States.

ABSTRACT: The coronavirus pandemic led to a severe economic shock in the United States. This paper uses a unique survey data collected early on in the pandemic to measure economic deprivation among individuals. The Federal Reserve Board fielded a Survey of Household Economics and Decision-making (SHED) in April 2020. This survey is used to compile data on four indicators of economic deprivation, namely: i) Overall financial condition, ii) Loss of employment, iii) Reduction in income and iv) Inability to pay bills in full. Data on these indicators is compiled for each individual and is used in a novel way to construct a set of multidimensional deprivation indices. These indices measure the overlap of deprivations experienced by an individual. Results show that almost 25 percent of the respondents fac

SUBMITTER: Dhongde S 

PROVIDER: S-EPMC7744060 | biostudies-literature | 2020

REPOSITORIES: biostudies-literature