Template-type: ReDIF-Paper 1.0
Author-Name: Prof. Dr. Sébastien P. Kraenzlin
Author-Name-First: Sébastien P.
Author-Name-Last: Kraenzlin
Author-Person: pkr183
Author-Name: Dr. Christoph Meyer
Author-Name-First: Christoph
Author-Name-Last: Meyer
Author-Person:  pme595
Author-Name: Dr. Thomas Nellen
Author-Name-First: Thomas
Author-Name-Last: Nellen
Author-Person: pne256
Title: COVID-19 and regional shifts in Swiss retail payments
Abstract: This paper analyzes card payments to the retail sector in Switzerland during the COVID-19 crisis. We provide evidence on aggregate effects and regional shifts. Pronounced shifts - which persisted post-lockdown - can be observed from urban to suburban and rural areas and among cantons. Data allow us to identify directly two sources of shifts: "tourists and business travelers," and "e-commerce." We indirectly identify additional sources: infection risk, lockdown measures, working from home, shopping tourism, and cash substitution. The COVID-19 crisis seems to have reinforced pre-existing trends that may have faster than anticipated effects on the economy. Our analysis underscores the usefulness of real-time card payment data to inform policy makers.
Length: 41 pages
Creation-Date: 2020
Contact-Email: forschung@snb.ch
File-URL: https://www.snb.ch/en/publications/research/working-papers/2020/working_paper_2020_15
File-Format: text/html
Number: 2020-15
Classification-JEL: E210, E420, E650, E710, R100
Keywords: COVID-19, lockdown, card payment data, regional sale shifts
Handle: RePEc:snb:snbwpa:2020-15