Questions and answers about
the UK economy.

Containing the virus or reviving the economy? evidence from individual expectations during the Covid-19 epidemic

How does an epidemic affect individuals' expectation on economic prospects? We implement an incentivized longitudinal online survey with randomized controlled trials during the Covid-19 epidemic in China to answer this question. We find that lower number of confirmed Covid-19 cases significantly increases individual’s expectation on GDP growth. However, individuals do not update their expectations when information on work resumption rate is provided in the RCT. Our finding conveys the message that, during an epidemic, containing the spread of the disease should be prioritized than resuming economic activities, at least from the perspective of maintaining positive economic expectations among individuals.

Lead investigator:

Keyang Li

Affiliation:

Tsinghua University, China

Primary topic:

Attitudes, media & governance

Region of data collection:

Asia and Oceania

Country of data collection

China

Status of data collection

Complete

Type of data being collected:

Online survey

Unit of real-time data collection

Individual

Start date

2/2020

End date

3/2020

Frequency

One-off

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