Advances in Economics, Management and Political Sciences
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Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 70 , 08 January 2024
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Evidence from Empirical Studies: Which Groups of Individuals Experience More Severe Income Hardship Due to COVID-19 Infection?
* Author to whom correspondence should be addressed.
Abstract
There is a lack of evidence on whether a pandemic exacerbates economic inequalities among disadvantaged groups. This study examined whether the income of single households was affected by sample adults who were infected with COVID-19. I used NHIS data, compared the average income between infected sample adults and uninfected for each of the sub-groups, and constructed the difference in the difference graph based on the mean value. Also, using a difference-in-difference model to confirm statistically significant differences in mean income between the different groups. The results show that full-time sample adults infected with COVID-19 have significantly lower incomes than those uninfected; the sample adults with hypertension, low education, or non-metropolitan residents’ groups, who were not infected with COVID-19 were the most disadvantaged financially. The main reason for these unexpected results may be that the unemployment of infected persons instead qualifies them for high benefits.
Keywords
COVID-19 infection, Unemployment, Income loss, Disadvantage groups
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-271-8
- ISBN (Online)
- 978-1-83558-272-5
- Published Date
- 08 January 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/70/20231510
- Copyright
- 08 January 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited