This paper explores the effect of “severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)” on the finances of middle-class families located in North India. COVID-19 pandemic has flare-up frenzy, nervousness, and sorrow level in both youth and adult individuals and changed food consumption preferences. To assess the financial effect of COVID-19 on individuals(households), a microeconomic model is created to appraise the immediate effect of COVID -19 on family income, savings, consumption, and expenses. The model assumes two periods: an assurance period during which people experience a stale income; and a crisis period, when families don't have a conviction on their pay and can utilize their savings to keep up the consumption of pre-crisis level during this emergency period.
{"title":"The Effect of COVID-19 on Family Budget","authors":"Tushar Kholia","doi":"10.2139/ssrn.3885815","DOIUrl":"https://doi.org/10.2139/ssrn.3885815","url":null,"abstract":"This paper explores the effect of “severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)” on the finances of middle-class families located in North India. COVID-19 pandemic has flare-up frenzy, nervousness, and sorrow level in both youth and adult individuals and changed food consumption preferences. To assess the financial effect of COVID-19 on individuals(households), a microeconomic model is created to appraise the immediate effect of COVID -19 on family income, savings, consumption, and expenses. The model assumes two periods: an assurance period during which people experience a stale income; and a crisis period, when families don't have a conviction on their pay and can utilize their savings to keep up the consumption of pre-crisis level during this emergency period.","PeriodicalId":332179,"journal":{"name":"Chicago Booth BCPT: Family (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131722443","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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