{"id":2264,"date":"2024-02-05T07:43:58","date_gmt":"2024-02-05T07:43:58","guid":{"rendered":"https:\/\/sites.nyuad.nyu.edu\/jss\/?p=2264"},"modified":"2024-02-05T18:20:02","modified_gmt":"2024-02-05T18:20:02","slug":"the-impact-of-covid-related-health-concerns-on-us-consumer-demand%ef%bd%9c-tianxiao-michael-xu","status":"publish","type":"post","link":"https:\/\/sites.nyuad.nyu.edu\/jss\/the-impact-of-covid-related-health-concerns-on-us-consumer-demand%ef%bd%9c-tianxiao-michael-xu\/","title":{"rendered":"The Impact of COVID-Related Health Concerns on US Consumer Demand\uff5c Tianxiao (Michael) Xu"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">With the onset of the COVID-19 pandemic and resulting nation-state policies, economies on a global scale have experienced an atypical recession, where sectors\u2019 susceptibility to shocks and the shape of their recoveries depend on their reliance on in-person contact, as opposed to sensitivity to real business cycles or income elasticities. On a state level in the United States, the substitution effect for aggregate demand becomes prominent, while any income losses become compensated. With the construction of a probabilistic event accounting for such substitution away from in-person services and towards remote services, a parsimonious linear probability model (LPM) empirically establishes the association between US consumers\u2019 COVID-related health concerns and the probability of such a substitution event occurring. Further principal component analysis and random forest classification findings corroborate the structural validity of the LPM specification, lending support to the central hypothesis.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read the article <a href=\"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-content\/uploads\/2024\/02\/The-Impact-of-COVID-Related-Health-Concerns-on-US-Consumer-Demand.pdf\" data-type=\"link\" data-id=\"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-content\/uploads\/2024\/02\/The-Impact-of-COVID-Related-Health-Concerns-on-US-Consumer-Demand.pdf\">here<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the onset of the COVID-19 pandemic and resulting nation-state policies, economies on a global scale have experienced an atypical<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,21],"tags":[120,89,92],"class_list":["post-2264","post","type-post","status-publish","format-standard","hentry","category-articles","category-economics","tag-consumer-demand","tag-covid-19","tag-united-states"],"_links":{"self":[{"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/posts\/2264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/comments?post=2264"}],"version-history":[{"count":2,"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/posts\/2264\/revisions"}],"predecessor-version":[{"id":2269,"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/posts\/2264\/revisions\/2269"}],"wp:attachment":[{"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/media?parent=2264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/categories?post=2264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sites.nyuad.nyu.edu\/jss\/wp-json\/wp\/v2\/tags?post=2264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}