@TechReport{iza:izadps:dp14662,
            	author={Woo, Seokjin and Aum, Sangmin and Kim, Dohyung and Moon, Heyjin and Lee, Soohyung},
            	title={Consumption Response to Seoul's COVID-19 Shopping Coupons: Evidence from Consumer Data},
            	year={2021},
	month={Aug},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={14662},
            	url={https://www.iza.org/index.php/publications/dp14662},
	abstract={This study measures the extent to which Seoul's COVID-19 shopping coupon program affects individuals' consumption. Unlike other COVID-19-related transfer programs, the Seoul Metropolitan government provides consumption coupons depending on income. We quantify the causal effect of Seoul's program by comparing eligible and ineligible groups using a difference-in-differences method. We find that the program increased consumption by 18% while it was ongoing and by 6% afterward. We find substantial heterogeneity in the treatment effects concerning recipients' income and consumption categories.},
	keywords={COVID-19;stimulus payment;consumption},
            }