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The Health Crisis and the Financial Situation of Households in France - A Study on Monthly Bank Data

Author

Listed:
  • Odran Bonnet
  • Simon Boutin
  • Tristan Loisel
  • Tom Olivia

Abstract

[eng] In view of the magnitude and the sudden nature of the health crisis in 2020, economists and statisticians have explored new sources of data to describe the development of the financial situation of households. The bank data used in this study, an anonymised panel of La Banque Postale customers, offer the twofold advantage of being able to be used virtually in real time and of recording monthly (or even daily) changes in income, spending and wealth. First, we show that while the crisis affected incomes in a limited and temporary way in 2020 for most households (regardless of income level), populations on the margins of the labour market suffered more. We then specifically study the situation of recipients of the revenu de solidarité active (RSA), a French in-work benefit. Although their social security benefits did not decrease in 2020, their incomes increased less than in a normal year because they did not return to employment. The exceptional government support paid out in May and November 2020 only partially counterbalanced these lower employment opportunities.

Suggested Citation

  • Odran Bonnet & Simon Boutin & Tristan Loisel & Tom Olivia, 2022. "The Health Crisis and the Financial Situation of Households in France - A Study on Monthly Bank Data," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 534-35, pages 21-41.
    • Handle: RePEc:nse:ecosta:ecostat_2022_534_2
    DOI: https://doi.org/10.24187/ecostat.2022.534.2077
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    References listed on IDEAS

    as
    1. Natalie Cox & Peter Ganong & Pascal Noel & Joseph Vavra & Arlene Wong & Diana Farrell & Fiona Greig & Erica Deadman, 2020. "Initial Impacts of the Pandemic on Consumer Behavior: Evidence from Linked Income, Spending, and Savings Data," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 51(2 (Summer), pages 35-82.
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    More about this item

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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