The early impacts of coronavirus pandemic on Americans’ economic security

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Wharton Pension Research Council Working Papers
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pandemic
financial stability
savings
inequality
Economics
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Angrisani, Marco
Burke, Jeremy
Kapteyn, Arie
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Abstract

The coronavirus pandemic has had enormous effects on the U.S. economy due to governmental mandates temporarily closing businesses and schools, and individuals remaining home due to fears of infection. In response, policymakers expanded unemployment benefits and passed legislation providing many people with Economic Impact Payments. As a result, many Americans’ financial stability actually improved early in the pandemic, both in subjective measures, like financial satisfaction, and more objective measures, like financial fragility and savings behavior and balances.

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2022-02-01
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The project described received funding from the TIAA Institute and the Wharton School’s Pension Research Council/Boettner Center and was also supported by a grant from the U.S. Social Security Administration (SSA), funded as part of the Retirement and Disability Research Consortium.
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