{"id":8568,"date":"2020-07-09T09:15:21","date_gmt":"2020-07-09T08:15:21","guid":{"rendered":"http:\/\/www.economicsobservatory.com\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19"},"modified":"2020-07-09T09:15:21","modified_gmt":"2020-07-09T08:15:21","slug":"the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19","status":"publish","type":"ongoing-research","link":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19","title":{"rendered":"The idiosyncratic impact of an aggregate shock: the distributional consequences of Covid-19"},"content":{"rendered":"

Using new data from the Understanding Society: Covid-19 survey collected in April 2020, we show how the aggregate shock caused by the pandemic affects individuals across the distribution in the UK. The survey collects data from existing members of the Understanding Society panel survey who have been followed for up to 10 years. Understanding society is based on probability samples and the Understanding Society Covid-19 Survey is carefully constructed to support valid population inferences. Further the panel allows comparisons with a pre-pandemic baseline. We document how the shock of the pandemic translates into different economic shocks for different types of worker: those with less education and precarious employment face the biggest economic shocks. Some of those affected are able to mitigate the impact of the economic shocks: universal credit protects those in the bottom quintile, for example. We estimate the prevalence of the different measures individuals and households take to mitigate the shocks. We show that the opportunities for mitigation are most limited for those most in need.<\/p>\n

<\/p>\n","protected":false},"template":"","categories":[],"frequency":[],"type_of_data":[],"yoast_head":"\nThe idiosyncratic impact of an aggregate shock: the distributional consequences of Covid-19 - Economics Observatory<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The idiosyncratic impact of an aggregate shock: the distributional consequences of Covid-19 - Economics Observatory\" \/>\n<meta property=\"og:description\" content=\"Using new data from the Understanding Society: Covid-19 survey collected in April 2020, we show how the aggregate shock caused by the pandemic affects individuals across the distribution in the UK. The survey collects data from existing members of the Understanding Society panel survey who have been followed for up to 10 years. Understanding society […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19\" \/>\n<meta property=\"og:site_name\" content=\"Economics Observatory\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@econobservatory\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19\",\"url\":\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19\",\"name\":\"The idiosyncratic impact of an aggregate shock: the distributional consequences of Covid-19 - Economics Observatory\",\"isPartOf\":{\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#website\"},\"datePublished\":\"2020-07-09T08:15:21+00:00\",\"dateModified\":\"2020-07-09T08:15:21+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.economicsobservatory.com\/test\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The idiosyncratic impact of an aggregate shock: the distributional consequences of Covid-19\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#website\",\"url\":\"https:\/\/www.economicsobservatory.com\/test\/\",\"name\":\"Economics Observatory\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.economicsobservatory.com\/test\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#organization\",\"name\":\"Economics Observatory\",\"url\":\"https:\/\/www.economicsobservatory.com\/test\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png\",\"contentUrl\":\"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png\",\"width\":540,\"height\":392,\"caption\":\"Economics Observatory\"},\"image\":{\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/twitter.com\/econobservatory\",\"https:\/\/www.linkedin.com\/company\/economics-observatory\/\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The idiosyncratic impact of an aggregate shock: the distributional consequences of Covid-19 - Economics Observatory","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19","og_locale":"en_GB","og_type":"article","og_title":"The idiosyncratic impact of an aggregate shock: the distributional consequences of Covid-19 - Economics Observatory","og_description":"Using new data from the Understanding Society: Covid-19 survey collected in April 2020, we show how the aggregate shock caused by the pandemic affects individuals across the distribution in the UK. The survey collects data from existing members of the Understanding Society panel survey who have been followed for up to 10 years. Understanding society […]","og_url":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19","og_site_name":"Economics Observatory","twitter_card":"summary_large_image","twitter_site":"@econobservatory","twitter_misc":{"Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19","url":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19","name":"The idiosyncratic impact of an aggregate shock: the distributional consequences of Covid-19 - Economics Observatory","isPartOf":{"@id":"https:\/\/www.economicsobservatory.com\/test\/#website"},"datePublished":"2020-07-09T08:15:21+00:00","dateModified":"2020-07-09T08:15:21+00:00","breadcrumb":{"@id":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.economicsobservatory.com\/test\/ongoing-research\/the-idiosyncratic-impact-of-an-aggregate-shock-the-distributional-consequences-of-covid-19#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.economicsobservatory.com\/test\/"},{"@type":"ListItem","position":2,"name":"The idiosyncratic impact of an aggregate shock: the distributional consequences of Covid-19"}]},{"@type":"WebSite","@id":"https:\/\/www.economicsobservatory.com\/test\/#website","url":"https:\/\/www.economicsobservatory.com\/test\/","name":"Economics Observatory","description":"","publisher":{"@id":"https:\/\/www.economicsobservatory.com\/test\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.economicsobservatory.com\/test\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.economicsobservatory.com\/test\/#organization","name":"Economics Observatory","url":"https:\/\/www.economicsobservatory.com\/test\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/","url":"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png","contentUrl":"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png","width":540,"height":392,"caption":"Economics Observatory"},"image":{"@id":"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/econobservatory","https:\/\/www.linkedin.com\/company\/economics-observatory\/"]}]}},"_links":{"self":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/ongoing-research\/8568"}],"collection":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/ongoing-research"}],"about":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/types\/ongoing-research"}],"version-history":[{"count":0,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/ongoing-research\/8568\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/media?parent=8568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/categories?post=8568"},{"taxonomy":"frequency","embeddable":true,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/frequency?post=8568"},{"taxonomy":"type_of_data","embeddable":true,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/type_of_data?post=8568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}