@article{30794992351145ebb8bc45087bd47bf4,
title = "Regional and sectorial impacts of the Covid-19 crisis: Evidence from electronic payments",
abstract = "We use novel and comprehensive monthly data on electronic payments, by municipality and sector, together with cash withdrawals, to study the impact of Covid-19 in Portugal. Our difference-in-differences event study identifies a causal decrease of 17 and 40 percentage points on the year-on-year growth rate of overall purchases in March and April 2020. We document a stronger impact of the crisis in more central and more urban municipalities, due to a combination of the sectorial composition effect of the local economy and the sharper confinement behavioral effect in these locations. We discuss the importance of tourism for the results.",
keywords = "Covid-19, Portugal, sectorial impacts, transaction data, urban areas",
author = "Carvalho, {Bruno P.} and Susana Peralta and {Pereira dos Santos}, Jo{\~a}o",
note = "Funding Information: The economic strain has reached families very quickly. In April, almost 400 thousand individuals registered to receive unemployment benefits, a 22% increase vis‐{\`a}‐vis April 2019. , a poll center run by two Social Sciences' research units in Lisbon, reported, in the beginning of May, that 81% of the families felt “very worried” or “worried” about their financial situation, with a higher incidence among the least educated and lower income individuals. More than one million employees were supported by the Portuguese furlough scheme until September. Under this policy, the social security covers part of the wage of workers in firms that decrease their operations partly or totally—but the workers face a wage cut of around 30%. Sondagens ICS/ISCTE Publisher Copyright: {\textcopyright} 2021 Wiley Periodicals LLC",
year = "2022",
month = jun,
doi = "10.1111/jors.12575",
language = "English",
volume = "62",
pages = "757--798",
journal = "Journal of Regional Science",
issn = "0022-4146",
publisher = "Wiley",
number = "3",
}