Card Spending Dynamics in Turkey During the Covid-19 Pandemic

dc.authorid Özcan, Gülserim/0000-0002-8207-8930
dc.authorid Kantur, Zeynep/0000-0002-5756-6457
dc.authorscopusid 14527322100
dc.authorscopusid 54789176300
dc.authorwosid Özcan, Gülserim/GLV-4093-2022
dc.authorwosid Özcan, Gülserim/W-3133-2018
dc.contributor.author Kantur, Zeynep
dc.contributor.author Özcan, Gülserim
dc.contributor.other Economics
dc.date.accessioned 2024-07-05T15:18:35Z
dc.date.available 2024-07-05T15:18:35Z
dc.date.issued 2021
dc.department Atılım University en_US
dc.department-temp BAŞKENT ÜNİVERSİTESİ,ATILIM ÜNİVERSİTESİ en_US
dc.description Özcan, Gülserim/0000-0002-8207-8930; Kantur, Zeynep/0000-0002-5756-6457 en_US
dc.description.abstract This paper provides an extensive analysis of card spending during the COVID-19 pandemic in Turkey by using weekly aggregated and sectoral credit and debit card spending data from March 2014 to December 2020. At an aggregated level, we show that aggregate demand decreases significantly at the early stages of COVID-19 and seems to reinstate its pre-COVID trend. However, when we include the pre-existing conditions of Turkey, the 2018 currency crisis, we observe that the recovery in demand is not that strong. To highlight the underlying reasons for structural change in aggregate demand, we estimate the model with stringency index and unemployment-related search index. The estimated model indicates that containment measures and restrictions and fear of job/income loss mainly explain the overall impact of COVID-19 on aggregate demand. We also examined sectoral data to understand aggregate demand dynamics better. Only stable and delayable sector groups have reached a trend above their pre-pandemic trajectories. However, the social and work-related sectors are far from their respective pre-pandemic trend. en_US
dc.identifier.citationcount 0
dc.identifier.doi 10.1016/j.cbrev.2021.07.002
dc.identifier.endpage 86 en_US
dc.identifier.issn 1303-0701
dc.identifier.issn 1305-8800
dc.identifier.issue 3 en_US
dc.identifier.scopus 2-s2.0-85111979914
dc.identifier.scopusquality Q1
dc.identifier.startpage 71 en_US
dc.identifier.trdizinid 498544
dc.identifier.uri https://doi.org/10.1016/j.cbrev.2021.07.002
dc.identifier.uri https://search.trdizin.gov.tr/tr/yayin/detay/498544/card-spending-dynamics-in-turkey-during-the-covid-19-pandemic
dc.identifier.volume 21 en_US
dc.identifier.wos WOS:000692531900001
dc.institutionauthor Akbal, Gülserim Özcan
dc.language.iso en en_US
dc.publisher Central Bank Republic Turkey en_US
dc.relation.ispartof Central Bank Review en_US
dc.relation.publicationcategory Makale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/openAccess en_US
dc.scopus.citedbyCount 14
dc.title Card Spending Dynamics in Turkey During the Covid-19 Pandemic en_US
dc.type Article en_US
dc.wos.citedbyCount 11
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